Energous Corporation (WATT) Upgraded to “Sell” at ValuEngine

ValuEngine upgraded shares of Energous Corporation (NASDAQ:WATT) from a strong sell rating to a sell rating in a report published on Tuesday.

Several other equities analysts have also recently commented on the stock. Roth Capital set a $23.00 price target on shares of Energous Corporation and gave the company a buy rating in a research report on Monday, August 7th. BidaskClub cut shares of Energous Corporation from a sell rating to a strong sell rating in a research report on Tuesday, August 1st. Finally, Zacks Investment Research raised shares of Energous Corporation from a hold rating to a buy rating and set a $15.00 price target for the company in a research report on Friday, August 11th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $18.67.

Energous Corporation (WATT) opened at $9.13 on Tuesday. Energous Corporation has a 1 year low of $6.91 and a 1 year high of $20.55.

Energous Corporation (NASDAQ:WATT) last issued its quarterly earnings results on Wednesday, November 8th. The industrial products company reported ($0.58) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.55) by ($0.03). Energous Corporation had a negative net margin of 4,203.27% and a negative return on equity of 263.95%. The business had revenue of $0.25 million during the quarter, compared to analysts’ expectations of $1.20 million. equities research analysts forecast that Energous Corporation will post -2.18 earnings per share for the current fiscal year.

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In other news, VP Cesar Johnston sold 15,000 shares of Energous Corporation stock in a transaction on Tuesday, September 26th. The shares were sold at an average price of $12.55, for a total transaction of $188,250.00. Following the completion of the sale, the vice president now directly owns 88,991 shares of the company’s stock, valued at approximately $1,116,837.05. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Michael Aaron Leabman sold 10,515 shares of Energous Corporation stock in a transaction on Monday, August 21st. The stock was sold at an average price of $9.31, for a total transaction of $97,894.65. Following the sale, the insider now directly owns 181,889 shares of the company’s stock, valued at $1,693,386.59. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 51,632 shares of company stock valued at $562,052. Corporate insiders own 6.20% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN lifted its position in shares of Energous Corporation by 223.0% during the 3rd quarter. Wells Fargo & Company MN now owns 63,637 shares of the industrial products company’s stock worth $806,000 after purchasing an additional 43,937 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Energous Corporation during the 3rd quarter worth $187,000. Bank of New York Mellon Corp lifted its position in shares of Energous Corporation by 26.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 70,761 shares of the industrial products company’s stock worth $896,000 after purchasing an additional 14,858 shares during the last quarter. Leisure Capital Management lifted its position in shares of Energous Corporation by 57.0% during the 3rd quarter. Leisure Capital Management now owns 34,540 shares of the industrial products company’s stock worth $437,000 after purchasing an additional 12,546 shares during the last quarter. Finally, Frontier Investment Mgmt Co. purchased a new stake in shares of Energous Corporation during the 2nd quarter worth $236,000. 37.70% 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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