Energous (NASDAQ:WATT) Stock Price Crosses Below Two Hundred Day Moving Average of $6.58

Energous Co. (NASDAQ:WATT) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $6.58 and traded as low as $1.56. Energous shares last traded at $1.64, with a volume of 23,210 shares trading hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on Energous in a report on Friday, August 18th. They issued a “sell” rating for the company.

Energous Stock Performance

The firm has a market capitalization of $7.54 million, a P/E ratio of -0.29 and a beta of 2.59. The stock has a 50-day moving average of $3.64 and a 200 day moving average of $6.58.

Energous (NASDAQ:WATT) last released its quarterly earnings results on Thursday, August 10th. The industrial products company reported ($1.20) EPS for the quarter, topping analysts’ consensus estimates of ($1.60) by $0.40. The business had revenue of $0.12 million for the quarter, compared to analyst estimates of $0.20 million. Energous had a negative return on equity of 101.27% and a negative net margin of 3,693.67%. On average, equities analysts predict that Energous Co. will post -5.9 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Advisor Group Holdings Inc. boosted its position in shares of Energous by 52.6% in the 1st 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. State Street Corp raised its stake in Energous by 10.3% during the 1st quarter. State Street Corp now owns 169,425 shares of the industrial products company’s stock worth $203,000 after buying an additional 15,766 shares during the period. BlackRock Inc. raised its stake in Energous by 1.9% during the 1st quarter. BlackRock Inc. now owns 896,760 shares of the industrial products company’s stock worth $1,077,000 after buying an additional 17,142 shares during the period. Jane Street Group LLC raised its stake in Energous by 145.6% during the 4th quarter. Jane Street Group LLC now owns 33,183 shares of the industrial products company’s stock worth $28,000 after buying an additional 19,671 shares during the period. Finally, Millennium Management LLC acquired a new stake in Energous during the 2nd quarter worth $53,000.

About Energous

Energous Corporation develops wireless charging applications. 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. Its 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.