Energous (NASDAQ:WATT) Stock Price Crosses Below 50 Day Moving Average – Time to Sell?

Energous Corporation (NASDAQ:WATT)’s stock price passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $5.67 and traded as low as $4.64. Energous shares last traded at $5.09, with a volume of 55,423 shares trading hands.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Energous in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell”.

Energous Stock Up 4.1%

The business’s 50-day simple moving average is $5.67 and its 200-day simple moving average is $7.91. The stock has a market cap of $11.07 million, a PE ratio of -0.28 and a beta of 0.74.

Institutional Investors Weigh In On Energous

A hedge fund recently bought a new stake in Energous stock. Armistice Capital LLC bought a new stake in shares of Energous Corporation (NASDAQ:WATT) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 155,636 shares of the industrial products company’s stock, valued at approximately $1,202,000. Armistice Capital LLC owned 8.53% of Energous as of its most recent filing with the Securities and Exchange Commission (SEC). 4.35% of the stock is currently owned by hedge funds and other institutional investors.

About Energous

Energous Corporation develops and commercializes radio frequency (RF)–based wireless charging technology designed to deliver power over the air to compatible devices. Its WattUp platform includes near‐field and far‐field transmitters that emit targeted RF energy and receiver modules that convert that energy into electrical power. The company’s solutions aim to eliminate the need for cables and charging pads by enabling contactless power delivery to a range of products, from wearables and IoT sensors to medical devices and consumer electronics.