Energous (NASDAQ:WATT) Issues Earnings Results

Energous (NASDAQ:WATT) issued its quarterly earnings results on Wednesday. The industrial products company reported ($1.28) earnings per share (EPS) for the quarter, Zacks reports. Energous had a negative net margin of 1.40% and a negative return on equity of 282.11%.

Energous Trading Up 8.6%

WATT stock traded up $0.61 during mid-day trading on Wednesday, reaching $7.74. 81,878 shares of the stock traded hands, compared to its average volume of 70,799. Energous has a 52-week low of $3.67 and a 52-week high of $81.00. The stock’s fifty day moving average is $7.94 and its 200-day moving average is $8.79. The company has a market cap of $14.13 million, a P/E ratio of -0.24 and a beta of 0.55.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on WATT shares. Wall Street Zen raised Energous to a “hold” rating in a research note on Friday, July 18th. Weiss Ratings restated a “sell (e+)” rating on shares of Energous in a research report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Energous presently has an average rating of “Sell”.

Insider Buying and Selling at Energous

In other news, CEO Mallorie Sara Burak purchased 6,400 shares of the business’s stock in a transaction dated Thursday, August 21st. The shares were acquired at an average price of $7.88 per share, for a total transaction of $50,432.00. Following the completion of the acquisition, the chief executive officer directly owned 10,132 shares of the company’s stock, valued at $79,840.16. The trade was a 171.49% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.08% of the stock is currently owned by company insiders.

Energous Company Profile

Energous Corporation provides wireless charging system solutions in the United States. The company develops WattUp wireless power networks technology that consists of semiconductor chipsets; software controls; hardware designs; and antennas that enables radio frequency-based charging for Internet of Things devices.