Energous Corp (NASDAQ:WATT) was up 7.8% on Thursday . The stock traded as high as $4.54 and last traded at $4.44. Approximately 836,129 shares were traded during trading, a decline of 11% from the average daily volume of 941,798 shares. The stock had previously closed at $4.12.
Several equities research analysts have recently weighed in on WATT shares. ValuEngine upgraded Energous from a “sell” rating to a “hold” rating in a research report on Monday, April 1st. Roth Capital decreased their price target on Energous from $18.10 to $12.70 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Zacks Investment Research cut Energous from a “hold” rating to a “sell” rating in a research report on Thursday, March 14th. LADENBURG THALM/SH SH upgraded Energous from a “neutral” rating to a “buy” rating and set a $6.50 price target on the stock in a research report on Wednesday, May 1st. Finally, BidaskClub upgraded Energous from a “sell” rating to a “hold” rating in a research report on Wednesday, February 20th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. Energous has an average rating of “Hold” and an average target price of $18.07.
Energous (NASDAQ:WATT) last issued its quarterly earnings data on Wednesday, February 27th. The industrial products company reported ($0.48) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.48). Energous had a negative return on equity of 169.14% and a negative net margin of 8,692.28%. The company had revenue of $0.06 million during the quarter, compared to analyst estimates of $0.80 million. As a group, sell-side analysts expect that Energous Corp will post -1.49 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the company. Brave Asset Management Inc. purchased a new position in shares of Energous during the first quarter worth about $74,000. HighTower Advisors LLC purchased a new position in shares of Energous during the first quarter worth about $77,000. Raymond James & Associates purchased a new position in shares of Energous during the first quarter worth about $84,000. FNY Investment Advisers LLC grew its holdings in shares of Energous by 285.7% during the first quarter. FNY Investment Advisers LLC now owns 13,500 shares of the industrial products company’s stock worth $85,000 after purchasing an additional 10,000 shares in the last quarter. Finally, Schnieders Capital Management LLC purchased a new stake in Energous in the fourth quarter worth approximately $89,000. 25.15% of the stock is owned by institutional investors.
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About Energous (NASDAQ:WATT)
Energous Corporation develops wire-free charging solutions. The company develops WattUp wireless power technology that consists of semiconductor chipsets, software controls, hardware designs, and antennas that enables radio frequency based wire-free charging for electronic devices. It has a collaboration with vivo Global to explore integrating WattUp into smartphone designs that charge wirelessly over-the-air.
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