Energous Corporation (NASDAQ:WATT) Short Interest Update

Energous Corporation (NASDAQ:WATT) saw a large drop in short interest during the month of January. As of January 30th, there was short interest totaling 180,673 shares, a drop of 32.8% from the January 15th total of 269,026 shares. Based on an average daily volume of 257,249 shares, the short-interest ratio is presently 0.7 days. Approximately 8.3% of the shares of the stock are sold short. Approximately 8.3% of the shares of the stock are sold short. Based on an average daily volume of 257,249 shares, the short-interest ratio is presently 0.7 days.

Institutional Trading of Energous

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WATT. Flagship Harbor Advisors LLC purchased a new stake in shares of Energous in the 3rd quarter valued at $87,000. Geode Capital Management LLC lifted its position in Energous by 85.4% during the fourth quarter. Geode Capital Management LLC now owns 18,713 shares of the industrial products company’s stock valued at $75,000 after purchasing an additional 8,619 shares during the period. Finally, Armistice Capital LLC purchased a new stake in Energous in the third quarter valued at $1,202,000. Institutional investors and hedge funds own 4.35% of the company’s stock.

Energous Price Performance

Shares of NASDAQ WATT opened at $11.38 on Friday. The business’s 50 day moving average is $6.12 and its two-hundred day moving average is $7.28. Energous has a 1-year low of $3.62 and a 1-year high of $18.36. The stock has a market capitalization of $24.81 million, a P/E ratio of -0.63 and a beta of 0.95.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Energous in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of “Sell”.

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.