Energous (NASDAQ:WATT) Research Coverage Started at StockNews.com

Stock analysts at StockNews.com initiated coverage on shares of Energous (NASDAQ:WATT – Get Rating) in a research note issued on Thursday. The brokerage set a “sell” rating on the industrial products company’s stock.

Energous Price Performance

Shares of NASDAQ:WATT opened at $0.54 on Thursday. The company has a market cap of $42.16 million, a P/E ratio of -1.59 and a beta of 2.64. Energous has a 1 year low of $0.51 and a 1 year high of $1.57. The stock’s fifty day moving average price is $0.75 and its 200-day moving average price is $0.95.

Insider Activity at Energous

In other Energous news, CEO Cesar Johnston sold 48,238 shares of the company’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $0.56, for a total value of $27,013.28. Following the completion of the sale, the chief executive officer now owns 797,461 shares in the company, valued at $446,578.16. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Over the last 90 days, insiders sold 78,855 shares of company stock worth $50,209. 1.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Energous

Several institutional investors have recently modified their holdings of the stock. Advisor Group Holdings Inc. increased its holdings in Energous by 52.6% during the 1st quarter. Advisor Group Holdings Inc. now owns 33,805 shares of the industrial products company’s stock worth $60,000 after purchasing an additional 11,650 shares during the period. BlackRock Inc. increased its holdings in shares of Energous by 1.9% in the 1st quarter. BlackRock Inc. now owns 896,760 shares of the industrial products company’s stock valued at $1,077,000 after acquiring an additional 17,142 shares during the period. State Street Corp increased its holdings in shares of Energous by 10.3% in the 1st quarter. State Street Corp now owns 169,425 shares of the industrial products company’s stock valued at $203,000 after acquiring an additional 15,766 shares during the period. Wealthsource Partners LLC purchased a new position in shares of Energous in the 2nd quarter valued at $25,000. Finally, Millennium Management LLC purchased a new position in shares of Energous in the 2nd quarter valued at $53,000. 9.26% of the stock is owned by institutional investors.

Energous Company Profile

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Energous Corp. engages in the development of wireless charging technology. It focuses on the product, WattUp, a wireless power technology consisting of proprietary semiconductor chipsets, software controls, hardware designs, and antennas, that enables radio frequency based charging for electronic devices.