Energous (WATT) Stock Rating Lowered by Zacks Investment Research

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Zacks Investment Research downgraded shares of Energous (NASDAQ:WATT) from a hold rating to a sell rating in a research report report published on Friday, Zacks.com reports.

According to Zacks, “Energous Corporation is a developer of a disruptive wire-free charging technology. It solutions enables wireless charging or powering of electronic devices at distance. The wireless charging solution, it is developing employs three dimensional (3D) pocketforming. Energous Corporation is headquartered in Pleasanton, California. “

Several other equities analysts have also recently weighed in on WATT. ValuEngine cut shares of Energous from a hold rating to a sell rating in a research note on Wednesday, January 2nd. BidaskClub raised shares of Energous from a sell rating to a hold rating in a research note on Wednesday, February 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. Energous currently has a consensus rating of Hold and an average price target of $22.00.

NASDAQ:WATT opened at $5.21 on Friday. Energous has a 1-year low of $4.41 and a 1-year high of $21.00. The firm has a market capitalization of $160.64 million, a P/E ratio of -2.62 and a beta of 1.97.

Energous (NASDAQ:WATT) last released its earnings results on Wednesday, February 27th. The industrial products company reported ($0.48) earnings per share for the quarter, meeting the consensus estimate of ($0.48). Energous had a negative net margin of 9,871.85% and a negative return on equity of 164.83%. On average, research analysts anticipate that Energous will post -1.24 EPS for the current fiscal year.

In other Energous news, insider Brian J. Sereda sold 3,400 shares of Energous stock in a transaction on Monday, February 4th. The shares were sold at an average price of $7.51, for a total transaction of $25,534.00. Following the completion of the transaction, the insider now directly owns 117,199 shares of the company’s stock, valued at $880,164.49. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Brian J. Sereda sold 3,792 shares of Energous stock in a transaction on Wednesday, January 30th. The stock was sold at an average price of $7.40, for a total transaction of $28,060.80. Following the transaction, the insider now directly owns 124,391 shares of the company’s stock, valued at $920,493.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,006 shares of company stock valued at $179,734. Company insiders own 6.80% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in WATT. Wells Fargo & Company MN boosted its position in Energous by 43.2% during the third quarter. Wells Fargo & Company MN now owns 40,774 shares of the industrial products company’s stock worth $413,000 after purchasing an additional 12,299 shares during the period. Virtu Financial LLC bought a new position in Energous during the third quarter worth $301,000. Jane Street Group LLC bought a new position in Energous during the third quarter worth $184,000. Morgan Stanley boosted its position in Energous by 40.1% during the third quarter. Morgan Stanley now owns 198,013 shares of the industrial products company’s stock worth $2,004,000 after purchasing an additional 56,647 shares during the period. Finally, Vanguard Group Inc. boosted its position in Energous by 7.6% during the third quarter. Vanguard Group Inc. now owns 993,462 shares of the industrial products company’s stock worth $10,054,000 after purchasing an additional 70,325 shares during the period. 27.34% of the stock is owned by hedge funds and other institutional investors.

Energous Company Profile

Energous Corporation develops wire-free charging solutions. The company develops WattUp wireless power technology that consists of semiconductor chipsets, software controls, hardware designs, and antennas that enables radio frequency based wire-free charging for electronic devices. It has a collaboration with vivo Global to explore integrating WattUp into smartphone designs that charge wirelessly over-the-air.

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