Energous (NASDAQ:WATT) Stock Crosses Above 50-Day Moving Average – Here’s Why

Energous Corporation (NASDAQ:WATT)’s share price passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $23.79 and traded as high as $28.98. Energous shares last traded at $28.03, with a volume of 338,653 shares traded.

Analyst Ratings Changes

A number of research firms have weighed in on WATT. Weiss Ratings lowered 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 equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Energous currently has an average rating of “Reduce”.

Energous Stock Performance

The business’s fifty day moving average price is $23.79 and its 200-day moving average price is $13.60. The stock has a market cap of $154.19 million, a PE ratio of -6.84 and a beta of 1.53.

Insider Activity

In related news, CEO Mallorie Sara Burak purchased 1,867 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were purchased at an average price of $26.47 per share, with a total value of $49,419.49. Following the acquisition, the chief executive officer directly owned 26,999 shares in the company, valued at $714,663.53. The trade was a 7.43% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.16% of the stock is currently owned by insiders.

Institutional Trading of Energous

Institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its holdings in shares of Energous by 85.4% in the fourth 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. Flagship Harbor Advisors LLC boosted its holdings in shares of Energous by 82.2% in the fourth quarter. Flagship Harbor Advisors LLC now owns 20,503 shares of the industrial products company’s stock worth $82,000 after buying an additional 9,250 shares during the last quarter. Quantinno Capital Management LP purchased a new position in shares of Energous in the first quarter worth approximately $220,000. 3Chopt Investment Partners LLC purchased a new position in shares of Energous in the first quarter worth approximately $282,000. Finally, NewEdge Advisors LLC boosted its holdings in shares of Energous by 8,628.4% in the first quarter. NewEdge Advisors LLC now owns 31,946 shares of the industrial products company’s stock worth $501,000 after buying an additional 31,580 shares during the last quarter. Hedge funds and other institutional investors 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.