Stock analysts at StockNews.com assumed coverage on shares of Energous (NASDAQ:WATT – Get 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:WATT – Get 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
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.
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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