A number of other analysts have also issued reports on the stock. BidaskClub upgraded shares of Energous from a “sell” rating to a “hold” rating in a research report on Wednesday, February 20th. Zacks Investment Research downgraded shares of Energous from a “hold” rating to a “sell” rating in a research note on Friday, March 8th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Energous has an average rating of “Hold” and a consensus target price of $22.00.
NASDAQ WATT traded up $0.09 during mid-day trading on Monday, reaching $5.08. 808,010 shares of the stock were exchanged, compared to its average volume of 1,099,154. Energous has a 1-year low of $4.41 and a 1-year high of $19.85. The firm has a market cap of $151.25 million, a P/E ratio of -2.55 and a beta of 1.97.
In other news, insider Brian J. Sereda sold 3,400 shares of the firm’s stock in a transaction on Monday, February 4th. The shares were sold at an average price of $7.51, for a total value of $25,534.00. Following the transaction, the insider now owns 117,199 shares of the company’s stock, valued at approximately $880,164.49. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Cesar Johnston sold 5,400 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $6.18, for a total transaction of $33,372.00. Following the completion of the transaction, the chief operating officer now directly owns 324,990 shares in the company, valued at approximately $2,008,438.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,006 shares of company stock worth $179,734. 7.00% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of WATT. Wells Fargo & Company MN raised its stake in shares of Energous by 43.2% in the 3rd quarter. Wells Fargo & Company MN now owns 40,774 shares of the industrial products company’s stock valued at $413,000 after acquiring an additional 12,299 shares during the period. Virtu Financial LLC purchased a new position in shares of Energous in the 3rd quarter valued at $301,000. Jane Street Group LLC purchased a new position in shares of Energous in the 3rd quarter valued at $184,000. Morgan Stanley raised its stake in shares of Energous by 40.1% in the 3rd quarter. Morgan Stanley now owns 198,013 shares of the industrial products company’s stock valued at $2,004,000 after acquiring an additional 56,647 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of Energous by 7.6% in the 3rd quarter. Vanguard Group Inc. now owns 993,462 shares of the industrial products company’s stock valued at $10,054,000 after acquiring an additional 70,325 shares during the period. 27.34% of the stock is currently owned by institutional investors and hedge funds.
Energous Corporation develops wire-free charging solutions. The company develops WattUp wireless power technology that consists of semiconductor chipsets, software controls, hardware designs, and antennas that enables radio frequency based wire-free charging for electronic devices. It has a collaboration with vivo Global to explore integrating WattUp into smartphone designs that charge wirelessly over-the-air.
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