Energous (NASDAQ:WATT) Receives New Coverage from Analysts at StockNews.com

Posted by Defense World Staff on Apr 28th, 2023

Stock analysts at StockNews.com began coverage on shares of Energous (NASDAQ:WATT – Get Rating) in a report issued on Friday. The firm set a “sell” rating on the industrial products company’s stock.

Energous Stock Performance

Energous stock opened at $0.35 on Friday. Energous has a 1-year low of $0.33 and a 1-year high of $1.57. The firm has a market capitalization of $32.22 million, a price-to-earnings ratio of -1.04 and a beta of 2.59. The firm has a 50 day simple moving average of $0.53 and a 200 day simple moving average of $0.80.

Insider Activity

In other news, CEO Cesar Johnston sold 48,238 shares of the company’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $0.56, for a total transaction of $27,013.28. Following the completion of the transaction, the chief executive officer now directly owns 797,461 shares of the company’s stock, valued at $446,578.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders sold 65,355 shares of company stock valued at $39,139. Insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Energous

Hedge funds and other institutional investors have recently bought and sold shares of the business. Advisor Group Holdings Inc. boosted its holdings in Energous by 52.6% in the first quarter. Advisor Group Holdings Inc. now owns 33,805 shares of the industrial products company’s stock worth $60,000 after purchasing an additional 11,650 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Energous by 1.9% during the 1st quarter. BlackRock Inc. now owns 896,760 shares of the industrial products company’s stock valued at $1,077,000 after buying an additional 17,142 shares in the last quarter. State Street Corp lifted its stake in shares of Energous by 10.3% during the 1st quarter. State Street Corp now owns 169,425 shares of the industrial products company’s stock valued at $203,000 after buying an additional 15,766 shares in the last quarter. Millennium Management LLC purchased a new position in shares of Energous during the 2nd quarter valued at $53,000. Finally, Doheny Asset Management CA purchased a new position in shares of Energous during the 3rd quarter valued at $65,000. Hedge funds and other institutional investors own 9.26% of the company’s stock.

Energous Company Profile

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Energous Corp. engages in the development of wireless charging technology. It focuses on the product, WattUp, a wireless power technology consisting of proprietary semiconductor chipsets, software controls, hardware designs, and antennas, that enables radio frequency based charging for electronic devices.