Energous (NASDAQ:WATT) Shares Cross Above 50-Day Moving Average – Here’s Why

Energous Corporation (NASDAQ:WATT)’s stock price crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $9.48 and traded as high as $14.11. Energous shares last traded at $12.61, with a volume of 315,501 shares traded.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Energous in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Energous Price Performance

The company has a market cap of $27.49 million, a PE ratio of -0.70 and a beta of 0.80. The stock has a 50 day simple moving average of $9.48 and a two-hundred day simple moving average of $7.73.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of WATT. Geode Capital Management LLC raised its holdings in shares of Energous by 85.4% in the fourth quarter. Geode Capital Management LLC now owns 18,713 shares of the industrial products company’s stock valued at $75,000 after buying an additional 8,619 shares during the last quarter. Flagship Harbor Advisors LLC grew its holdings in shares of Energous by 82.2% during the fourth quarter. Flagship Harbor Advisors LLC now owns 20,503 shares of the industrial products company’s stock worth $82,000 after buying an additional 9,250 shares during the last quarter. Finally, Armistice Capital LLC acquired a new position in Energous in the 3rd quarter valued at about $1,202,000. 4.35% of the stock is currently owned by institutional investors and hedge funds.

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.