Energous (NASDAQ:WATT) Given New $12.70 Price Target at Roth Capital

Energous (NASDAQ:WATT) had its price objective reduced by equities researchers at Roth Capital from $18.10 to $12.70 in a note issued to investors on Wednesday, May 1st, The Fly reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Roth Capital’s target price indicates a potential upside of 174.89% from the stock’s previous close.

A number of other research analysts have also recently issued reports on WATT. Zacks Investment Research raised Energous from a “sell” rating to a “hold” rating in a report on Friday, March 29th. ValuEngine raised Energous from a “sell” rating to a “hold” rating in a report on Monday, April 1st. BidaskClub raised Energous from a “sell” rating to a “hold” rating in a report on Wednesday, February 20th. Finally, LADENBURG THALM/SH SH raised Energous from a “neutral” rating to a “buy” rating and set a $6.50 price objective for the company in a report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $18.07.

Shares of NASDAQ WATT opened at $4.62 on Wednesday. The firm has a market cap of $154.23 million, a price-to-earnings ratio of -2.32 and a beta of 1.83. Energous has a 52-week low of $4.41 and a 52-week high of $19.39.

Energous (NASDAQ:WATT) last issued its quarterly earnings data on Wednesday, February 27th. The industrial products company reported ($0.48) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.48). The company had revenue of $0.06 million during the quarter, compared to analysts’ expectations of $0.80 million. Energous had a negative return on equity of 169.14% and a negative net margin of 8,692.28%. On average, equities research analysts anticipate that Energous will post -1.49 EPS for the current year.

In other news, COO Cesar Johnston sold 5,400 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $6.18, for a total value of $33,372.00. Following the completion of the sale, the chief operating officer now directly owns 324,990 shares in the company, valued at $2,008,438.20. The sale was disclosed in a filing with the SEC, which is accessible through this link. Over the last 90 days, insiders sold 10,725 shares of company stock valued at $66,281. 7.00% of the stock is currently owned by corporate insiders.

Large investors have recently made changes to their positions in the company. Brave Asset Management Inc. acquired a new stake in shares of Energous in the first quarter valued at $74,000. HighTower Advisors LLC acquired a new stake in shares of Energous in the first quarter valued at $77,000. Raymond James & Associates acquired a new stake in shares of Energous in the first quarter valued at $84,000. FNY Investment Advisers LLC increased its stake in shares of Energous by 285.7% in the first quarter. FNY Investment Advisers LLC now owns 13,500 shares of the industrial products company’s stock valued at $85,000 after buying an additional 10,000 shares in the last quarter. Finally, Schnieders Capital Management LLC acquired a new stake in shares of Energous in the fourth quarter valued at $89,000. Institutional investors own 24.12% of the company’s stock.

About Energous

Energous Corporation develops wire-free charging solutions. The company develops WattUp wireless power technology that consists of semiconductor chipsets, software controls, hardware designs, and antennas that enables radio frequency based wire-free charging for electronic devices. It has a collaboration with vivo Global to explore integrating WattUp into smartphone designs that charge wirelessly over-the-air.

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