Insider Buying: Energous (NASDAQ:WATT) CEO Buys $49,419.49 in Stock

Energous Corporation (NASDAQ:WATT) CEO Mallorie Sara Burak bought 1,867 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The stock was acquired at an average cost of $26.47 per share, with a total value of $49,419.49. Following the transaction, the chief executive officer owned 26,999 shares of the company’s stock, valued at $714,663.53. This represents a 7.43% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Energous Trading Up 2.0%

Energous stock opened at $28.00 on Friday. The company has a market cap of $154 million, a P/E ratio of -6.83 and a beta of 1.61. Energous Corporation has a 1-year low of $3.62 and a 1-year high of $36.98. The company has a fifty day simple moving average of $22.83 and a 200 day simple moving average of $12.93.

Analysts Set New Price Targets

WATT has been the subject of a number of recent analyst reports. Weiss Ratings cut shares of Energous from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, April 29th. Zacks Research upgraded shares of Energous to a “hold” rating in a research note on Friday, March 27th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Reduce”.

Institutional Trading of Energous

A number of large investors have recently added to or reduced their stakes in the company. AIGH Capital Management LLC acquired a new stake in Energous in the first quarter valued at $3,373,000. Armistice Capital LLC acquired a new stake in Energous in the third quarter valued at $1,202,000. GatePass Capital LLC acquired a new stake in Energous in the first quarter valued at $1,820,000. Flagship Harbor Advisors LLC lifted its stake in Energous by 82.2% in the fourth quarter. Flagship Harbor Advisors LLC now owns 20,503 shares of the industrial products company’s stock valued at $82,000 after acquiring an additional 9,250 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Energous by 85.4% during the 4th quarter. Geode Capital Management LLC now owns 18,713 shares of the industrial products company’s stock worth $75,000 after buying an additional 8,619 shares during the last quarter. Institutional investors and hedge funds own 4.35% of the company’s stock.

About Energous

Energous Corporation develops and commercializes radio frequency (RF)–based wireless charging technology designed to deliver power over the air to compatible devices. Its WattUp platform includes near‐field and far‐field transmitters that emit targeted RF energy and receiver modules that convert that energy into electrical power. The company’s solutions aim to eliminate the need for cables and charging pads by enabling contactless power delivery to a range of products, from wearables and IoT sensors to medical devices and consumer electronics.