Energous Corporation (NASDAQ:WATT) saw a significant increase in short interest in the month of December. As of December 29th, there was short interest totalling 5,695,748 shares, an increase of 22.8% from the December 15th total of 4,639,445 shares. Based on an average daily volume of 13,057,311 shares, the short-interest ratio is presently 0.4 days. Currently, 36.2% of the shares of the company are short sold.
A number of equities analysts have recently weighed in on the company. Zacks Investment Research upgraded Energous from a “sell” rating to a “hold” rating in a research note on Saturday. Ladenburg Thalmann Financial Services increased their target price on Energous from $20.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, January 3rd. Roth Capital set a $45.80 target price on Energous and gave the stock a “buy” rating in a research note on Thursday, December 28th. Finally, ValuEngine upgraded Energous from a “sell” rating to a “hold” rating in a research note on Wednesday, December 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. Energous presently has an average rating of “Hold” and a consensus target price of $30.93.
Energous (WATT) opened at $20.00 on Monday. Energous has a 52 week low of $6.91 and a 52 week high of $33.50. The company has a market capitalization of $444.27, a price-to-earnings ratio of -7.81 and a beta of 1.93.
Energous (NASDAQ:WATT) last posted its quarterly earnings data on Wednesday, November 8th. The industrial products company reported ($0.58) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.55) by ($0.03). Energous had a negative return on equity of 263.95% and a negative net margin of 4,203.27%. The company had revenue of $0.25 million for the quarter, compared to the consensus estimate of $1.20 million. equities analysts forecast that Energous will post -2.18 earnings per share for the current year.
In other news, CEO Stephen R. Rizzone sold 75,000 shares of the stock in a transaction that occurred on Friday, December 29th. The stock was sold at an average price of $26.04, for a total transaction of $1,953,000.00. Following the transaction, the chief executive officer now owns 253,609 shares in the company, valued at $6,603,978.36. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Neeraj Sahejpal sold 2,846 shares of the stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $9.35, for a total value of $26,610.10. Following the transaction, the vice president now owns 89,123 shares in the company, valued at approximately $833,300.05. The disclosure for this sale can be found here. In the last quarter, insiders have sold 282,562 shares of company stock worth $7,128,895. 6.30% of the stock is owned by corporate insiders.
Institutional investors have recently bought and sold shares of the business. Nationwide Fund Advisors increased its stake in Energous by 26.0% during the 2nd quarter. Nationwide Fund Advisors now owns 10,741 shares of the industrial products company’s stock worth $175,000 after acquiring an additional 2,216 shares during the period. Frontier Investment Mgmt Co. bought a new position in Energous during the 2nd quarter worth $236,000. SG Americas Securities LLC bought a new position in Energous during the 3rd quarter worth $187,000. The Manufacturers Life Insurance Company increased its stake in Energous by 32.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,728 shares of the industrial products company’s stock worth $255,000 after acquiring an additional 3,855 shares during the period. Finally, Westside Investment Management Inc. increased its stake in Energous by 9.1% during the 2nd quarter. Westside Investment Management Inc. now owns 18,025 shares of the industrial products company’s stock worth $287,000 after acquiring an additional 1,500 shares during the period. Hedge funds and other institutional investors own 38.97% of the company’s stock.
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Energous Corporation is engaged in developing a technology called WattUp that consists of semiconductor chipsets, software, hardware designs and antennas that can enable radio frequency (RF)-based wire-free charging for electronic devices, providing power at a distance and enabling charging with mobility under software control.
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