StockNews.com Initiates Coverage on Energous (NASDAQ:WATT)

Research analysts at StockNews.com initiated coverage on shares of Energous (NASDAQ:WATT) in a research note issued on Tuesday. The brokerage set a “sell” rating on the industrial products company’s stock.

Separately, LADENBURG THALM/SH SH cut shares of Energous from a “buy” rating to a “neutral” rating and decreased their target price for the company from $3.50 to $2.00 in a research note on Friday, April 5th.

Energous Stock Down 6.9 %

NASDAQ WATT opened at $1.56 on Tuesday. Energous has a 12-month low of $1.51 and a 12-month high of $9.36. The company has a market capitalization of $9.46 million, a PE ratio of -0.38 and a beta of 2.55. The firm’s 50 day moving average is $1.93 and its 200-day moving average is $1.88.

Hedge Funds Weigh In On Energous

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WATT. Advisor Group Holdings Inc. grew its stake in shares of Energous by 52.6% in the first quarter. Advisor Group Holdings Inc. now owns 33,805 shares of the industrial products company’s stock valued at $60,000 after acquiring an additional 11,650 shares in the last quarter. State Street Corp grew its stake in shares of Energous by 10.3% in the first quarter. State Street Corp now owns 169,425 shares of the industrial products company’s stock valued at $203,000 after acquiring an additional 15,766 shares in the last quarter. BlackRock Inc. grew its stake in shares of Energous by 1.9% in the first quarter. BlackRock Inc. now owns 896,760 shares of the industrial products company’s stock valued at $1,077,000 after acquiring an additional 17,142 shares in the last quarter. Jane Street Group LLC grew its stake in shares of Energous by 145.6% in the fourth quarter. Jane Street Group LLC now owns 33,183 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 19,671 shares in the last quarter. Finally, Millennium Management LLC bought a new stake in Energous during the second quarter worth about $53,000. 4.35% of the stock is owned by institutional investors.

Energous Company Profile

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.