Energous (NASDAQ:WATT) Share Price Passes Above 50-Day Moving Average – What’s Next?

Energous Corporation (NASDAQ:WATT)’s share price passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $10.90 and traded as high as $17.96. Energous shares last traded at $16.11, with a volume of 507,452 shares.

Analyst Upgrades and Downgrades

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

Energous Stock Performance

The company’s 50 day moving average price is $10.90 and its 200-day moving average price is $8.14. The stock has a market cap of $35.12 million, a P/E ratio of -0.89 and a beta of 0.80.

Institutional Investors Weigh In On Energous

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Armistice Capital LLC bought a new position in shares of Energous during the 3rd quarter worth approximately $1,202,000. Flagship Harbor Advisors LLC grew its holdings in shares of Energous by 82.2% in the fourth quarter. Flagship Harbor Advisors LLC now owns 20,503 shares of the industrial products company’s stock valued at $82,000 after acquiring an additional 9,250 shares in the last quarter. Finally, Geode Capital Management LLC grew 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 acquiring an additional 8,619 shares in the last quarter. Hedge funds and other institutional investors own 4.35% of the company’s stock.

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.