StockNews.com Begins Coverage on Energous (NASDAQ:WATT)

StockNews.com initiated coverage on shares of Energous (NASDAQ:WATT) in a research note issued to investors on Tuesday. The firm issued a sell rating on the industrial products company’s stock.

Separately, LADENBURG THALM/SH SH downgraded shares of Energous from a buy rating to a neutral rating and reduced their price objective for the stock from $3.50 to $2.00 in a report on Friday, April 5th.

Energous Price Performance

NASDAQ WATT opened at $1.48 on Tuesday. The firm has a market capitalization of $9.00 million, a price-to-earnings ratio of -0.36 and a beta of 2.55. The company’s fifty day moving average is $1.92 and its two-hundred day moving average is $1.87. Energous has a 52-week low of $1.42 and a 52-week high of $9.36.

Institutional Investors Weigh In On Energous

A number of institutional investors and hedge funds have recently modified their holdings of the business. Squarepoint Ops LLC bought a new stake in shares of Energous during the first quarter worth approximately $96,000. Armistice Capital LLC bought a new stake in shares of Energous during the first quarter worth approximately $4,244,000. Jane Street Group LLC raised its stake in shares of Energous by 145.6% during the fourth quarter. Jane Street Group LLC now owns 33,183 shares of the industrial products company’s stock worth $28,000 after buying an additional 19,671 shares during the last quarter. Advisor Group Holdings Inc. raised its stake in shares of Energous by 90.6% during the fourth quarter. Advisor Group Holdings Inc. now owns 68,261 shares of the industrial products company’s stock worth $57,000 after buying an additional 32,456 shares during the last quarter. Finally, State Street Corp raised its stake in shares of Energous by 8.9% during the third quarter. State Street Corp now owns 208,725 shares of the industrial products company’s stock worth $215,000 after buying an additional 17,000 shares during the last quarter. 4.35% of the stock is owned by institutional investors.

Energous Company Profile

Energous Corporation develops wireless charging applications. The company develops WattUp wireless power technology that consists of semiconductor chipsets, software controls, hardware designs, and antennas that enables radio frequency-based charging for electronic devices. Its products are used in building and home automation, electronic shelf labels, industrial IoT sensors, surface and implanted medical devices, tracking devices, hearables, wearables, consumer electronics, and public safety applications.