Energous (NASDAQ:WATT) Shares Cross Above 50 Day Moving Average – Should You Sell?

Energous Corporation (NASDAQ:WATT) passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $24.86 and traded as high as $25.05. Energous shares last traded at $23.71, with a volume of 238,076 shares changing hands.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Zacks Research raised shares of Energous to a “hold” rating in a research report on Friday, March 27th. Weiss Ratings cut shares of Energous from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, April 29th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

Energous Stock Down 1.9%

The firm has a market cap of $130.43 million, a price-to-earnings ratio of -5.78 and a beta of 1.53. The company’s 50-day moving average price is $24.86 and its 200-day moving average price is $14.30.

Insider Activity

In other Energous news, CEO Mallorie Sara Burak purchased 1,867 shares of Energous stock in a transaction dated Wednesday, May 27th. The shares were acquired at an average price of $26.47 per share, with a total value of $49,419.49. Following the completion of the transaction, the chief executive officer owned 26,999 shares of the company’s stock, valued at $714,663.53. This trade represents a 7.43% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.16% of the company’s stock.

Institutional Trading of Energous

Several hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC lifted its position in shares of Energous by 85.4% during the fourth quarter. Geode Capital Management LLC now owns 18,713 shares of the industrial products company’s stock worth $75,000 after purchasing an additional 8,619 shares in the last quarter. Flagship Harbor Advisors LLC lifted its position in shares of Energous by 82.2% during the fourth quarter. Flagship Harbor Advisors LLC now owns 20,503 shares of the industrial products company’s stock worth $82,000 after purchasing an additional 9,250 shares in the last quarter. Quantinno Capital Management LP acquired a new stake in shares of Energous during the first quarter worth about $220,000. 3Chopt Investment Partners LLC acquired a new stake in shares of Energous during the first quarter worth about $282,000. Finally, NewEdge Advisors LLC lifted its position in shares of Energous by 8,628.4% during the first quarter. NewEdge Advisors LLC now owns 31,946 shares of the industrial products company’s stock worth $501,000 after purchasing an additional 31,580 shares in the last quarter. Institutional investors and hedge funds own 4.35% of the company’s stock.

Energous Company Profile

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.