Initiates Coverage on Energous (NASDAQ:WATT)

Stock analysts at assumed coverage on shares of Energous (NASDAQ:WATTGet Rating) in a report issued on Monday. The firm set a “sell” rating on the industrial products company’s stock.

Energous Stock Down 1.0 %

NASDAQ:WATT opened at $0.32 on Monday. The company has a fifty day simple moving average of $0.44 and a two-hundred day simple moving average of $0.71. The company has a market cap of $29.39 million, a price-to-earnings ratio of -0.98 and a beta of 2.59. Energous has a 52 week low of $0.30 and a 52 week high of $1.57.

Energous (NASDAQ:WATTGet Rating) last posted its quarterly earnings results on Thursday, March 9th. The industrial products company reported ($0.08) EPS for the quarter, hitting the consensus estimate of ($0.08). The business had revenue of $0.18 million during the quarter, compared to the consensus estimate of $0.24 million. Energous had a negative net margin of 3,521.31% and a negative return on equity of 88.08%. On average, analysts expect that Energous will post -0.31 EPS for the current year.

Insider Transactions at Energous

In other news, CEO Cesar Johnston sold 48,238 shares of Energous stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $0.56, for a total transaction of $27,013.28. Following the completion of the sale, the chief executive officer now directly owns 797,461 shares of the company’s stock, valued at approximately $446,578.16. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In the last three months, insiders sold 56,669 shares of company stock valued at $30,833. Insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Energous

Several institutional investors have recently modified their holdings of the company. Armistice Capital LLC purchased a new stake in Energous in the first quarter valued at $4,244,000. Squarepoint Ops LLC purchased a new stake in Energous in the first quarter valued at $96,000. Doheny Asset Management CA purchased a new stake in shares of Energous in the third quarter valued at about $65,000. Millennium Management LLC purchased a new stake in shares of Energous in the second quarter valued at about $53,000. Finally, Advisor Group Holdings Inc. raised its holdings in shares of Energous by 90.6% in the fourth quarter. Advisor Group Holdings Inc. now owns 68,261 shares of the industrial products company’s stock valued at $57,000 after buying an additional 32,456 shares during the last quarter. 9.26% of the stock is owned by hedge funds and other institutional investors.

About Energous

(Get Rating)

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.

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