Short Interest in Energous Corporation (NASDAQ:WATT) Declines By 29.5%

Energous Corporation (NASDAQ:WATT) saw a large decline in short interest in September. As of September 30th, there was short interest totaling 80,200 shares, a decline of 29.5% from the September 15th total of 113,800 shares. Approximately 5.1% of the shares of the stock are sold short. Based on an average daily volume of 62,900 shares, the short-interest ratio is currently 1.3 days. Based on an average daily volume of 62,900 shares, the short-interest ratio is currently 1.3 days. Approximately 5.1% of the shares of the stock are sold short.

Analysts Set New Price Targets

Several brokerages have commented on WATT. Weiss Ratings restated a “sell (e+)” rating on shares of Energous in a research report on Wednesday, October 8th. Wall Street Zen raised Energous to a “hold” rating in a research note on Friday, July 18th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Insider Activity at Energous

In related news, CEO Mallorie Sara Burak bought 6,400 shares of the firm’s stock in a transaction on Thursday, August 21st. The shares were bought at an average cost of $7.88 per share, for a total transaction of $50,432.00. Following the transaction, the chief executive officer owned 10,132 shares of the company’s stock, valued at approximately $79,840.16. This trade represents a 171.49% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.08% of the company’s stock.

Energous Trading Down 2.2%

Shares of WATT stock opened at $8.28 on Thursday. The firm has a 50-day moving average price of $7.96 and a 200 day moving average price of $8.80. Energous has a twelve month low of $3.67 and a twelve month high of $81.00. The company has a market capitalization of $15.07 million, a price-to-earnings ratio of -0.26 and a beta of 0.60.

Energous (NASDAQ:WATT) last announced its earnings results on Tuesday, July 29th. The industrial products company reported ($2.40) earnings per share for the quarter, beating the consensus estimate of ($25.80) by $23.40. Energous had a negative net margin of 1.40% and a negative return on equity of 282.11%. The firm had revenue of $0.98 million during the quarter, compared to the consensus estimate of $0.59 million. As a group, research analysts predict that Energous will post -3.01 earnings per share for the current year.

About Energous

Energous Corporation provides wireless charging system solutions in the United States. The company develops WattUp wireless power networks technology that consists of semiconductor chipsets; software controls; hardware designs; and antennas that enables radio frequency-based charging for Internet of Things devices.