Energous (NASDAQ:WATT) Posts Quarterly Earnings Results, Beats Expectations By $0.49 EPS

Energous (NASDAQ:WATT) posted its quarterly earnings results on Wednesday. The industrial products company reported ($1.31) EPS for the quarter, beating the consensus estimate of ($1.80) by $0.49, Manual reports. Energous had a negative net margin of 1.40% and a negative return on equity of 282.11%. The firm had revenue of $1.27 million for the quarter, compared to analyst estimates of $2.13 million.

Energous Price Performance

NASDAQ WATT traded down $0.09 on Thursday, hitting $7.23. 43,570 shares of the company were exchanged, compared to its average volume of 70,856. The company’s 50 day moving average price is $7.94 and its 200-day moving average price is $8.78. The firm has a market capitalization of $13.19 million, a P/E ratio of -0.23 and a beta of 0.55. Energous has a twelve month low of $3.67 and a twelve month high of $81.00.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Wall Street Zen upgraded shares of Energous to a “hold” rating in a research note on Friday, July 18th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Energous in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company has an average rating of “Sell”.

Insider Buying and Selling at Energous

In other news, CEO Mallorie Sara Burak acquired 6,400 shares of the business’s stock in a transaction that occurred on Thursday, August 21st. The stock was acquired at an average cost of $7.88 per share, for a total transaction of $50,432.00. Following the completion of the acquisition, the chief executive officer owned 10,132 shares in the company, valued at approximately $79,840.16. The trade was a 171.49% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.08% of the stock is owned by corporate insiders.

About Energous

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.