Energous Corporation (WATT) Given a $23.00 Price Target at Roth Capital

Energous Corporation (NASDAQ:WATT) has been given a $23.00 price target by equities researchers at Roth Capital in a research note issued to investors on Monday, August 7th. The brokerage presently has a “buy” rating on the industrial products company’s stock. Roth Capital’s price objective would indicate a potential upside of 123.74% from the stock’s previous close.

A number of other equities analysts also recently commented on WATT. ValuEngine downgraded shares of Energous Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. BidaskClub downgraded shares of Energous Corporation from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 1st. Zacks Investment Research upgraded shares of Energous Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, May 16th. Finally, Ladenburg Thalmann Financial Services reiterated a “buy” rating and set a $18.00 target price on shares of Energous Corporation in a research note on Thursday, May 11th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $17.75.

Shares of Energous Corporation (NASDAQ:WATT) traded down 3.56% during mid-day trading on Monday, reaching $10.28. The company’s stock had a trading volume of 877,505 shares. The stock’s market cap is $225.12 million. The stock has a 50 day moving average of $14.67 and a 200-day moving average of $15.00. Energous Corporation has a one year low of $9.70 and a one year high of $20.55.

Energous Corporation (NASDAQ:WATT) last issued its earnings results on Tuesday, August 8th. The industrial products company reported ($0.63) EPS for the quarter, hitting analysts’ consensus estimates of ($0.63). The firm had revenue of $0.30 million during 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%. On average, equities research analysts expect that Energous Corporation will post ($2.37) EPS for the current fiscal year.

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In other news, VP Neeraj Sahejpal sold 1,615 shares of the stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $15.85, for a total transaction of $25,597.75. Following the completion of the sale, the vice president now owns 104,820 shares in the company, valued at $1,661,397. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director John Gaulding sold 2,140 shares of the stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $15.85, for a total transaction of $33,919.00. Following the sale, the director now owns 86,155 shares of the company’s stock, valued at approximately $1,365,556.75. The disclosure for this sale can be found here. Insiders sold 24,593 shares of company stock valued at $395,217 in the last 90 days. 6.20% of the stock is currently owned by insiders.

Large investors have recently made changes to their positions in the company. Creative Planning boosted its position 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 in the last quarter. American International Group Inc. boosted its position in 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 valued at $142,000 after buying an additional 607 shares in the last quarter. Quantbot Technologies LP boosted its position in Energous Corporation by 516.9% in the first quarter. Quantbot Technologies LP now owns 9,512 shares of the industrial products company’s stock valued at $148,000 after buying an additional 7,970 shares in the last quarter. Nationwide Fund Advisors boosted its position in Energous Corporation by 26.0% in the second quarter. Nationwide Fund Advisors now owns 10,741 shares of the industrial products company’s stock valued at $175,000 after buying an additional 2,216 shares in the last quarter. Finally, Oppenheimer & Co. Inc. boosted its position in Energous Corporation by 16.9% in the first quarter. Oppenheimer & Co. Inc. now owns 11,797 shares of the industrial products company’s stock valued at $184,000 after buying an additional 1,702 shares in the last quarter. Institutional investors and hedge funds own 39.97% of the company’s stock.

About Energous Corporation

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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