Energous Corporation (NASDAQ:WATT) Issues Quarterly Earnings Results

Energous Corporation (NASDAQ:WATT) released its earnings results on Tuesday, August 8th. The industrial products company reported ($0.63) earnings per share for the quarter, hitting the consensus estimate of ($0.63), Bloomberg Earnings reports. The company had revenue of $0.30 million for the quarter, compared to the consensus estimate of $0.43 million. Energous Corporation had a negative net margin of 2,495.17% and a negative return on equity of 237.18%.

Shares of Energous Corporation (NASDAQ:WATT) opened at 10.28 on Friday. The stock’s market cap is $225.12 million. Energous Corporation has a one year low of $9.70 and a one year high of $20.55. The company has a 50 day moving average of $14.67 and a 200-day moving average of $15.00.

Several analysts have recently commented on WATT shares. Zacks Investment Research raised shares of Energous Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, May 16th. BidaskClub downgraded shares of Energous Corporation from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 1st. Ladenburg Thalmann Financial Services reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Energous Corporation in a report on Thursday, May 11th. ValuEngine upgraded shares of Energous Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Roth Capital set a $23.00 price objective on shares of Energous Corporation and gave the stock a “buy” rating in a research report on Monday, August 7th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $17.75.

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In other Energous Corporation news, Director John Gaulding sold 2,140 shares of Energous Corporation stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $15.85, for a total value of $33,919.00. Following the completion of the sale, the director now owns 86,155 shares in the company, valued at approximately $1,365,556.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Neeraj Sahejpal sold 1,615 shares of Energous Corporation stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $15.85, for a total value of $25,597.75. Following the completion of the sale, the vice president now owns 104,820 shares of the company’s stock, valued at approximately $1,661,397. The disclosure for this sale can be found here. Insiders sold a total of 24,593 shares of company stock valued at $395,217 in the last three months. 6.20% of the stock is currently owned by corporate insiders.

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.

Earnings History for Energous Corporation (NASDAQ:WATT)

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