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

Research analysts at StockNews.com initiated coverage on shares of Energous (NASDAQ:WATT) in a note issued to investors on Tuesday. The firm set a “sell” rating on the industrial products company’s stock.

Separately, LADENBURG THALM/SH SH lowered shares of Energous from a “buy” rating to a “neutral” rating and decreased their price target for the company from $3.50 to $2.00 in a report on Friday, April 5th.

Energous Stock Performance

NASDAQ WATT opened at $1.56 on Tuesday. Energous has a one year low of $1.51 and a one year high of $9.36. The company has a 50-day simple moving average of $1.93 and a 200-day simple moving average of $1.88. The firm has a market capitalization of $9.46 million, a PE ratio of -0.38 and a beta of 2.55.

Institutional Trading of Energous

A number of hedge funds and other institutional investors have recently made changes to their positions in WATT. Armistice Capital LLC acquired a new stake in shares of Energous during the first quarter valued at approximately $4,244,000. Squarepoint Ops LLC acquired a new stake in shares of Energous during the first quarter valued at approximately $96,000. Millennium Management LLC acquired a new stake in shares of Energous during the second quarter valued at approximately $53,000. Advisor Group Holdings Inc. raised its holdings in shares of Energous by 90.6% during the fourth quarter. Advisor Group Holdings Inc. now owns 68,261 shares of the industrial products company’s stock valued at $57,000 after acquiring an additional 32,456 shares during the period. Finally, State Street Corp raised its holdings in shares of Energous by 13.2% during the second quarter. State Street Corp now owns 191,725 shares of the industrial products company’s stock valued at $192,000 after acquiring an additional 22,300 shares during the period. 4.35% of the stock is currently owned by institutional investors.

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.