Energous (NASDAQ:WATT) Stock Passes Below Two Hundred Day Moving Average – Should You Sell?

Energous Co. (NASDAQ:WATT) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.97 and traded as low as $0.55. Energous shares last traded at $0.56, with a volume of 138,486 shares.

Energous Price Performance

The stock’s 50-day moving average is $0.63 and its 200 day moving average is $0.97.

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

Hedge Funds Weigh In On Energous

An institutional investor recently raised its position in Energous stock. Armistice Capital LLC grew its stake in shares of Energous Co. (NASDAQ:WATT) by 44.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 408,000 shares of the industrial products company’s stock after acquiring an additional 126,409 shares during the period. Armistice Capital LLC owned about 6.24% of Energous worth $445,000 at the end of the most recent reporting period. 4.35% of the stock is currently owned by institutional investors.

Energous Company Profile

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.