Energous (NASDAQ:WATT) Stock Crosses Above Fifty Day Moving Average – Here’s Why

Energous Corporation (NASDAQ:WATT) crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $24.86 and traded as high as $25.05. Energous shares last traded at $23.71, with a volume of 238,076 shares trading hands.

Analysts Set New Price Targets

Several research firms have recently weighed in on WATT. Zacks Research raised shares of Energous to a “hold” rating in a report on Friday, March 27th. Weiss Ratings cut shares of Energous from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Reduce”.

Energous Stock Down 1.9%

The company has a market cap of $130.41 million, a P/E ratio of -5.78 and a beta of 1.53. The company has a fifty day moving average of $24.86 and a 200 day moving average of $14.30.

Insider Activity

In other news, CEO Mallorie Sara Burak purchased 1,867 shares of the business’s stock in a transaction on Wednesday, May 27th. The stock was acquired at an average cost of $26.47 per share, for a total transaction of $49,419.49. Following the purchase, the chief executive officer directly owned 26,999 shares in the company, valued at $714,663.53. This trade represents a 7.43% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.16% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Energous

A number of institutional investors and hedge funds have recently made changes to their positions in WATT. Geode Capital Management LLC increased its holdings in Energous by 85.4% during the fourth quarter. Geode Capital Management LLC now owns 18,713 shares of the industrial products company’s stock valued at $75,000 after buying an additional 8,619 shares during the last quarter. Flagship Harbor Advisors LLC boosted its stake in shares of Energous by 82.2% during the 4th quarter. Flagship Harbor Advisors LLC now owns 20,503 shares of the industrial products company’s stock worth $82,000 after acquiring an additional 9,250 shares during the last quarter. Quantinno Capital Management LP purchased a new position in shares of Energous during the 1st quarter worth $220,000. 3Chopt Investment Partners LLC bought a new stake in shares of Energous during the 1st quarter valued at $282,000. Finally, NewEdge Advisors LLC increased its stake in shares of Energous by 8,628.4% in the 1st quarter. NewEdge Advisors LLC now owns 31,946 shares of the industrial products company’s stock worth $501,000 after purchasing an additional 31,580 shares in the last quarter. Hedge funds and other institutional investors own 4.35% of the company’s stock.

About Energous

Energous Corporation develops and commercializes radio frequency (RF)–based wireless charging technology designed to deliver power over the air to compatible devices. Its WattUp platform includes near?field and far?field transmitters that emit targeted RF energy and receiver modules that convert that energy into electrical power. The company’s solutions aim to eliminate the need for cables and charging pads by enabling contactless power delivery to a range of products, from wearables and IoT sensors to medical devices and consumer electronics.