Energous Corp (NASDAQ:WATT) Short Interest Down 5.1% in June

Energous Corp (NASDAQ:WATT) was the target of a large drop in short interest during the month of June. As of June 15th, there was short interest totalling 6,859,600 shares, a drop of 5.1% from the May 15th total of 7,228,700 shares. Based on an average daily trading volume, of 474,300 shares, the days-to-cover ratio is presently 14.5 days. Currently, 35.1% of the company’s stock are short sold.

In related news, CFO Brian J. Sereda sold 20,000 shares of Energous stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $4.51, for a total value of $90,200.00. Following the sale, the chief financial officer now owns 169,499 shares of the company’s stock, valued at approximately $764,440.49. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Cesar Johnston sold 5,400 shares of Energous stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $6.18, for a total value of $33,372.00. Following the completion of the sale, 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 three months, insiders sold 34,160 shares of company stock worth $172,625. 7.00% of the stock is owned by insiders.

Several large investors have recently bought and sold shares of the business. Oppenheimer & Co. Inc. increased its position in shares of Energous by 13.6% during the 1st quarter. Oppenheimer & Co. Inc. now owns 27,434 shares of the industrial products company’s stock worth $174,000 after purchasing an additional 3,280 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Energous by 5.5% during the 4th quarter. Bank of New York Mellon Corp now owns 71,653 shares of the industrial products company’s stock worth $414,000 after purchasing an additional 3,758 shares during the last quarter. SG Americas Securities LLC increased its position in shares of Energous by 3.3% during the 1st quarter. SG Americas Securities LLC now owns 241,303 shares of the industrial products company’s stock worth $1,530,000 after purchasing an additional 7,623 shares during the last quarter. Rhumbline Advisers increased its position in shares of Energous by 45.8% during the 4th quarter. Rhumbline Advisers now owns 30,324 shares of the industrial products company’s stock worth $176,000 after purchasing an additional 9,524 shares during the last quarter. Finally, FNY Investment Advisers LLC increased its position in shares of Energous by 285.7% during the 1st quarter. FNY Investment Advisers LLC now owns 13,500 shares of the industrial products company’s stock worth $85,000 after purchasing an additional 10,000 shares during the last quarter. 25.04% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages recently issued reports on WATT. Zacks Investment Research lowered Energous from a “hold” rating to a “sell” rating in a research report on Friday, April 12th. ValuEngine raised Energous from a “sell” rating to a “hold” rating in a research report on Monday, April 1st. LADENBURG THALM/SH SH raised Energous from a “neutral” rating to a “buy” rating and set a $6.50 target price on the stock in a research report on Wednesday, May 1st. Finally, Roth Capital dropped their target price on Energous from $18.10 to $12.70 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. Energous presently has a consensus rating of “Hold” and a consensus price target of $18.07.

Shares of Energous stock opened at $4.37 on Monday. The company has a 50 day moving average price of $4.43. Energous has a 52-week low of $3.86 and a 52-week high of $15.86. The firm has a market cap of $132.94 million, a price-to-earnings ratio of -2.20 and a beta of 1.89.

Energous (NASDAQ:WATT) last posted its quarterly earnings results on Tuesday, April 30th. The industrial products company reported ($0.39) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.47) by $0.08. The firm had revenue of $0.07 million for the quarter, compared to analyst estimates of $0.10 million. Energous had a negative return on equity of 169.14% and a negative net margin of 8,692.28%. Sell-side analysts predict that Energous will post -1.49 EPS for the current fiscal year.

About Energous

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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