StockNews.com Begins Coverage on Energous (NASDAQ:WATT)

StockNews.com initiated coverage on shares of Energous (NASDAQ:WATT) in a report published on Thursday. The brokerage issued a sell rating on the industrial products company’s stock.

Energous Price Performance

Shares of WATT stock opened at $1.96 on Thursday. Energous has a 1-year low of $1.51 and a 1-year high of $21.20. The firm has a fifty day moving average of $1.77 and a two-hundred day moving average of $3.93.

Energous (NASDAQ:WATT) last announced its quarterly earnings data on Thursday, November 9th. The industrial products company reported ($0.96) earnings per share for the quarter. The company had revenue of $0.17 million for the quarter. Energous had a negative return on equity of 112.89% and a negative net margin of 3,719.40%. On average, research analysts forecast that Energous will post -2.7 EPS for the current fiscal year.

Insider Activity

In other Energous news, CEO Cesar Johnston purchased 52,000 shares of the firm’s stock in a transaction dated Monday, November 13th. The stock was acquired at an average cost of $1.82 per share, with a total value of $94,640.00. Following the acquisition, the chief executive officer now owns 91,651 shares of the company’s stock, valued at approximately $166,804.82. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of WATT. Advisor Group Holdings Inc. boosted its holdings in shares of Energous by 52.6% in the 1st quarter. Advisor Group Holdings Inc. now owns 33,805 shares of the industrial products company’s stock valued at $60,000 after buying an additional 11,650 shares during the period. BlackRock Inc. boosted its stake in Energous by 1.9% during the 1st quarter. BlackRock Inc. now owns 896,760 shares of the industrial products company’s stock valued at $1,077,000 after purchasing an additional 17,142 shares during the period. State Street Corp boosted its stake in Energous by 10.3% during the 1st quarter. State Street Corp now owns 169,425 shares of the industrial products company’s stock valued at $203,000 after purchasing an additional 15,766 shares during the period. Millennium Management LLC acquired a new position in Energous during the 2nd quarter valued at about $53,000. Finally, Jane Street Group LLC boosted its stake in Energous by 145.6% during the 4th quarter. Jane Street Group LLC now owns 33,183 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 19,671 shares during the period.

About Energous

Energous Corporation develops wireless charging applications. The company develops WattUp wireless power technology that consists of semiconductor chipsets, software controls, hardware designs, and antennas that enables radio frequency-based charging for electronic devices. Its products are used in building and home automation, electronic shelf labels, industrial IoT sensors, surface and implanted medical devices, tracking devices, hearables, wearables, consumer electronics, and public safety applications.