Energous (WATT) Lowered to “Sell” at ValuEngine

Energous (NASDAQ:WATT) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday, May 1st, ValuEngine reports.

Other equities research analysts have also issued research reports about the company. Zacks Investment Research lowered Energous from a “hold” rating to a “sell” rating in a research note on Friday, April 12th. BidaskClub raised Energous from a “sell” rating to a “hold” rating in a research note on Wednesday, February 20th. Roth Capital lowered their target price on Energous from $18.10 to $12.70 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Finally, LADENBURG THALM/SH SH raised Energous from a “neutral” rating to a “buy” rating and set a $6.50 target price for the company in a research note on Wednesday, May 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. Energous has a consensus rating of “Hold” and a consensus price target of $18.07.

Shares of WATT stock opened at $4.62 on Wednesday. Energous has a 12-month low of $4.41 and a 12-month high of $19.39. The stock has a market cap of $154.23 million, a price-to-earnings ratio of -2.32 and a beta of 1.83.

Energous (NASDAQ:WATT) last released its earnings results on Wednesday, February 27th. The industrial products company reported ($0.48) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.48). Energous had a negative return on equity of 169.14% and a negative net margin of 8,692.28%. The company had revenue of $0.06 million during the quarter, compared to analyst estimates of $0.80 million. On average, sell-side analysts forecast that Energous will post -1.49 EPS for the current year.

In other news, COO Cesar Johnston sold 5,400 shares of the business’s stock in a transaction dated 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 owns 324,990 shares of the company’s stock, valued at approximately $2,008,438.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In the last three months, insiders sold 10,725 shares of company stock valued at $66,281. 7.00% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in the stock. Oppenheimer & Co. Inc. increased its holdings in Energous by 13.6% during the 1st quarter. Oppenheimer & Co. Inc. now owns 27,434 shares of the industrial products company’s stock valued at $174,000 after purchasing an additional 3,280 shares during the period. Bank of New York Mellon Corp increased its holdings in Energous by 5.5% during the 4th quarter. Bank of New York Mellon Corp now owns 71,653 shares of the industrial products company’s stock valued at $414,000 after purchasing an additional 3,758 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Energous by 11.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 54,217 shares of the industrial products company’s stock valued at $344,000 after purchasing an additional 5,517 shares during the period. SG Americas Securities LLC increased its holdings in Energous by 3.3% during the 1st quarter. SG Americas Securities LLC now owns 241,303 shares of the industrial products company’s stock valued at $1,530,000 after purchasing an additional 7,623 shares during the period. Finally, Rhumbline Advisers increased its holdings in Energous by 45.8% during the 4th quarter. Rhumbline Advisers now owns 30,324 shares of the industrial products company’s stock valued at $176,000 after purchasing an additional 9,524 shares during the period. 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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