BidaskClub Downgrades Energous Corporation (NASDAQ:WATT) to Strong Sell

Energous Corporation (NASDAQ:WATT) was downgraded by BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Tuesday, August 1st.

Other equities research analysts also recently issued research reports about the company. ValuEngine upgraded Energous Corporation from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Zacks Investment Research upgraded Energous Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, May 16th. Ladenburg Thalmann Financial Services restated a “buy” rating and set a $18.00 price target on shares of Energous Corporation in a research report on Thursday, May 11th. Finally, Roth Capital set a $23.00 price objective on Energous Corporation and gave the stock a “buy” rating in a report on Thursday, May 11th. Two equities research analysts have 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 presently has an average rating of “Hold” and a consensus price target of $17.75.

Energous Corporation (NASDAQ WATT) traded down 3.56% during trading on Tuesday, hitting $10.28. The stock had a trading volume of 877,505 shares. The company has a 50-day moving average of $14.67 and a 200-day moving average of $15.00. The stock’s market capitalization is $225.12 million. Energous Corporation has a 52 week low of $9.70 and a 52 week high of $20.55.

Energous Corporation (NASDAQ:WATT) last posted its quarterly earnings data on Tuesday, August 8th. The industrial products company reported ($0.63) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.63). The company had revenue of $0.30 million during the quarter, compared to analyst estimates of $0.43 million. Energous Corporation had a negative return on equity of 237.18% and a negative net margin of 2,495.17%. On average, equities analysts expect that Energous Corporation will post ($2.37) earnings per share for the current fiscal year.

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In other Energous Corporation news, VP Cesar Johnston sold 9,443 shares of Energous Corporation stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $16.11, for a total transaction of $152,126.73. Following the sale, the vice president now directly owns 123,133 shares of the company’s stock, valued at approximately $1,983,672.63. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Neeraj Sahejpal sold 1,615 shares of Energous Corporation stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $15.85, for a total value of $25,597.75. Following the sale, the vice president now directly owns 104,820 shares in the company, valued at $1,661,397. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,593 shares of company stock worth $395,217. 6.20% of the stock is owned by company insiders.

Hedge funds have recently bought and sold shares of the stock. Creative Planning boosted its stake in Energous Corporation by 7.2% in the first quarter. Creative Planning now owns 8,990 shares of the industrial products company’s stock valued at $140,000 after buying an additional 600 shares during the last quarter. American International Group Inc. boosted its stake in shares of Energous Corporation by 7.1% in the first quarter. American International Group Inc. now owns 9,130 shares of the industrial products company’s stock worth $142,000 after buying an additional 607 shares in the last quarter. Quantbot Technologies LP boosted its stake in shares of Energous Corporation by 516.9% in the first quarter. Quantbot Technologies LP now owns 9,512 shares of the industrial products company’s stock worth $148,000 after buying an additional 7,970 shares in the last quarter. Nationwide Fund Advisors boosted its stake in shares of Energous Corporation by 26.0% in the second quarter. Nationwide Fund Advisors now owns 10,741 shares of the industrial products company’s stock worth $175,000 after buying an additional 2,216 shares in the last quarter. Finally, Oppenheimer & Co. Inc. boosted its stake in shares of Energous Corporation by 16.9% in the first quarter. Oppenheimer & Co. Inc. now owns 11,797 shares of the industrial products company’s stock worth $184,000 after buying an additional 1,702 shares in the last quarter. 39.97% of the stock is currently owned by institutional investors and hedge funds.

Energous Corporation Company Profile

Energous Corporation is engaged in developing a technology called WattUp that consists of semiconductor chipsets, software, hardware designs and antennas that can enable radio frequency (RF)-based wire-free charging for electronic devices, providing power at a distance and enabling charging with mobility under software control.

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