Equities research analysts expect Energous Corporation (NASDAQ:WATT) to post $1.20 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Energous Corporation’s earnings, with the lowest sales estimate coming in at $400,000.00 and the highest estimate coming in at $2.00 million. Energous Corporation reported sales of $1.00 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 20%. The business is expected to announce its next earnings report on Monday, November 6th.
On average, analysts expect that Energous Corporation will report full-year sales of $1.20 million for the current fiscal year, with estimates ranging from $1.70 million to $7.74 million. For the next year, analysts anticipate that the business will post sales of $84.00 million per share. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Energous Corporation.
Energous Corporation (NASDAQ:WATT) last announced its earnings results on Tuesday, August 8th. The industrial products company reported ($0.63) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.63). The business had revenue of $0.30 million during the quarter, compared to analysts’ expectations of $0.43 million. Energous Corporation had a negative net margin of 2,495.17% and a negative return on equity of 237.18%.
Several research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Energous Corporation from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a report on Friday, August 11th. BidaskClub lowered shares of Energous Corporation from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 1st. ValuEngine lowered shares of Energous Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Finally, Roth Capital set a $23.00 price target on shares of Energous Corporation and gave the stock a “buy” rating in a research note on Monday, August 7th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $17.75.
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Energous Corporation (NASDAQ:WATT) traded up 2.35% during trading on Thursday, reaching $13.92. 654,620 shares of the company’s stock traded hands. Energous Corporation has a one year low of $8.91 and a one year high of $20.55. The company has a 50-day moving average price of $11.47 and a 200 day moving average price of $14.01. The firm’s market capitalization is $304.83 million.
In related news, VP Cesar Johnston sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 26th. The stock was sold at an average price of $12.55, for a total value of $188,250.00. Following the completion of the transaction, the vice president now directly owns 88,991 shares of the company’s stock, valued at $1,116,837.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian J. Sereda sold 11,395 shares of the company’s stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $16.11, for a total value of $183,573.45. Following the completion of the transaction, the insider now directly owns 133,577 shares of the company’s stock, valued at $2,151,925.47. The disclosure for this sale can be found here. Insiders have sold 69,624 shares of company stock worth $871,142 over the last 90 days. Insiders own 6.20% of the company’s stock.
Several hedge funds have recently bought and sold shares of WATT. American International Group Inc. boosted its holdings in shares of Energous Corporation by 7.1% in the first quarter. American International Group Inc. now owns 9,130 shares of the industrial products company’s stock valued at $142,000 after acquiring an additional 607 shares during the period. Quantbot Technologies LP boosted its holdings in shares of Energous Corporation by 516.9% in the first quarter. Quantbot Technologies LP now owns 9,512 shares of the industrial products company’s stock valued at $148,000 after acquiring an additional 7,970 shares during the period. Nationwide Fund Advisors boosted its holdings in shares of Energous Corporation by 26.0% in the second quarter. Nationwide Fund Advisors now owns 10,741 shares of the industrial products company’s stock valued at $175,000 after acquiring an additional 2,216 shares during the period. Oppenheimer & Co. Inc. boosted its holdings in shares of Energous Corporation by 16.9% in the first quarter. Oppenheimer & Co. Inc. now owns 11,797 shares of the industrial products company’s stock valued at $184,000 after acquiring an additional 1,702 shares during the period. Finally, Frontier Investment Mgmt Co. acquired a new stake in shares of Energous Corporation in the second quarter valued at approximately $236,000. 36.84% of the stock is owned by institutional investors and hedge funds.
About Energous Corporation
Energous Corporation is engaged in developing a technology called WattUp that consists of semiconductor chipsets, software, hardware designs and antennas that can enable radio frequency (RF)-based wire-free charging for electronic devices, providing power at a distance and enabling charging with mobility under software control.
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