Energous (NASDAQ:WATT) Stock Price Passes Above Fifty Day Moving Average of $1.22

Shares of Energous Co. (NASDAQ:WATTGet Rating) crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $1.22 and traded as high as $1.33. Energous shares last traded at $1.33, with a volume of 109,424 shares.

Analyst Ratings Changes

Separately, LADENBURG THALM/SH SH raised their target price on shares of Energous from $1.50 to $1.90 and gave the stock a “buy” rating in a report on Thursday, August 11th.

Energous Stock Up 0.8 %

The stock has a market cap of $103.05 million, a P/E ratio of -2.61 and a beta of 2.59. The firm’s fifty day moving average price is $1.22 and its 200-day moving average price is $1.11.

Energous (NASDAQ:WATTGet Rating) last issued its earnings results on Wednesday, August 10th. The industrial products company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.03. Energous had a negative net margin of 4,120.80% and a negative return on equity of 84.10%. The firm had revenue of $0.23 million for the quarter, compared to analysts’ expectations of $0.19 million. During the same quarter last year, the business earned ($0.18) earnings per share. Sell-side analysts predict that Energous Co. will post -0.38 earnings per share for the current year.

Insider Activity at Energous

In related news, CEO Cesar Johnston sold 20,304 shares of Energous stock in a transaction on Monday, August 15th. The shares were sold at an average price of $1.45, for a total value of $29,440.80. Following the sale, the chief executive officer now owns 738,657 shares in the company, valued at $1,071,052.65. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 50,641 shares of company stock worth $66,352 over the last quarter. Corporate insiders own 1.20% of the company’s stock.

Institutional Trading of Energous

Several large investors have recently added to or reduced their stakes in WATT. Millennium Management LLC bought a new stake in Energous in the second quarter valued at $53,000. Coombe Bender & Co LLC bought a new stake in shares of Energous during the 2nd quarter valued at $27,000. Wealthsource Partners LLC bought a new stake in shares of Energous during the 2nd quarter valued at $25,000. Aaron Wealth Advisors LLC bought a new stake in shares of Energous during the 1st quarter valued at $19,100,000. Finally, State Street Corp boosted its holdings in shares of Energous by 13.2% during the 2nd quarter. State Street Corp now owns 191,725 shares of the industrial products company’s stock valued at $192,000 after buying an additional 22,300 shares in the last quarter. Institutional investors own 8.79% of the company’s stock.

About Energous

(Get Rating)

Energous Corporation develops wireless 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 charging for electronic devices. The company's products are used in building and home automation, electronic shelf labels, industrial IoT sensors, surface and implanted medical devices, tracking devices, hearables, wearables, consumer electronics, and public safety applications.

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