$100,000.00 in Sales Expected for Energous Corp (WATT) This Quarter

Wall Street brokerages expect Energous Corp (NASDAQ:WATT) to announce sales of $100,000.00 for the current quarter, Zacks reports. Two analysts have issued estimates for Energous’ earnings. Energous posted sales of $30,000.00 in the same quarter last year, which suggests a positive year over year growth rate of 233.3%. The company is scheduled to report its next quarterly earnings results on Tuesday, May 7th.

According to Zacks, analysts expect that Energous will report full year sales of $10.67 million for the current fiscal year, with estimates ranging from $1.00 million to $20.33 million. For the next financial year, analysts anticipate that the business will post sales of $202.00 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Energous.

Energous (NASDAQ:WATT) last announced its quarterly earnings data on Wednesday, February 27th. The industrial products company reported ($0.48) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.48). Energous had a negative net margin of 9,871.85% and a negative return on equity of 164.83%.

Several equities research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Energous from a “sell” rating to a “hold” rating in a research report on Friday, April 5th. ValuEngine raised Energous from a “sell” rating to a “hold” rating in a research report on Monday, April 1st. Finally, BidaskClub raised Energous from a “sell” rating to a “hold” rating in a research report on Wednesday, February 20th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Energous currently has a consensus rating of “Hold” and an average price target of $22.00.

Shares of Energous stock traded down $0.21 during trading on Friday, hitting $5.66. The company’s stock had a trading volume of 14,903 shares, compared to its average volume of 770,807. The firm has a market cap of $177.92 million, a price-to-earnings ratio of -2.86 and a beta of 1.97. Energous has a 52 week low of $4.41 and a 52 week high of $21.00.

In related news, insider Brian J. Sereda sold 3,792 shares of Energous stock in a transaction on Wednesday, January 30th. The stock was sold at an average price of $7.40, for a total transaction of $28,060.80. Following the completion of the sale, the insider now owns 124,391 shares of the company’s stock, valued at $920,493.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Cesar Johnston sold 8,089 shares of Energous stock in a transaction on Wednesday, January 30th. The shares were sold at an average price of $7.40, for a total value of $59,858.60. Following the sale, the executive vice president now directly owns 176,879 shares of the company’s stock, valued at approximately $1,308,904.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,006 shares of company stock valued at $179,734. 6.80% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WATT. Vanguard Group Inc raised its stake in Energous by 7.6% during the third quarter. Vanguard Group Inc now owns 993,462 shares of the industrial products company’s stock worth $10,054,000 after buying an additional 70,325 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Energous during the fourth quarter worth approximately $1,353,000. Morgan Stanley lifted its stake in Energous by 40.1% during the third quarter. Morgan Stanley now owns 198,013 shares of the industrial products company’s stock worth $2,004,000 after purchasing an additional 56,647 shares during the last quarter. Cheyne Capital Management UK LLP purchased a new stake in Energous during the third quarter worth approximately $101,000. Finally, M&T Bank Corp lifted its stake in Energous by 95.9% during the fourth quarter. M&T Bank Corp now owns 20,010 shares of the industrial products company’s stock worth $116,000 after purchasing an additional 9,797 shares during the last quarter. 27.34% of the stock is owned by hedge funds and other institutional investors.

Energous Company Profile

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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