Energous (NASDAQ:WATT) Stock Passes Below 200 Day Moving Average – Here’s Why

Energous Co. (NASDAQ:WATT)’s share price crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $1.00 and traded as low as $0.56. Energous shares last traded at $0.57, with a volume of 79,334 shares changing hands.

Energous Stock Performance

The business’s 50 day moving average price is $0.67 and its two-hundred day moving average price is $1.00. The company has a market capitalization of $3.94 million, a price-to-earnings ratio of -0.17 and a beta of 2.61.

Energous (NASDAQ:WATT) last issued its quarterly earnings results on Thursday, August 8th. The industrial products company reported ($0.73) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.87) by $0.14. The company had revenue of $0.05 million during the quarter, compared to analyst estimates of $0.14 million. Energous had a negative net margin of 5,276.82% and a negative return on equity of 203.70%. On average, sell-side analysts expect that Energous Co. will post -3.01 earnings per share for the current year.

Institutional Trading of Energous

A hedge fund recently raised its stake in Energous stock. Armistice Capital LLC boosted its holdings in shares of Energous Co. (NASDAQ:WATT) by 44.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 408,000 shares of the industrial products company’s stock after purchasing an additional 126,409 shares during the period. Armistice Capital LLC owned approximately 6.24% of Energous worth $445,000 at the end of the most recent quarter. Institutional investors own 4.35% of the company’s stock.

About Energous

Energous Corporation provides wireless charging system solutions in the United States. The company develops WattUp wireless power networks technology that consists of semiconductor chipsets; software controls; hardware designs; and antennas that enables radio frequency-based charging for Internet of Things devices.