Energous Corp. (WATT) Raised to Buy at Zacks Investment Research
Energous Corp. (NASDAQ:WATT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The brokerage currently has a $18.00 price objective on the stock. Zacks Investment Research’s price target would suggest a potential upside of 12.99% from the company’s current price.
According to Zacks, “Energous Corporation is a developer of a disruptive wire-free charging technology. It solutions enables wireless charging or powering of electronic devices at distance. The wireless charging solution, it is developing employs three dimensional (3D) pocketforming. Energous Corporation is headquartered in Pleasanton, California. “
Separately, Oppenheimer Holdings Inc. reissued an “outperform” rating and issued a $15.00 price objective (up from $13.00) on shares of Energous Corp. in a research note on Tuesday, August 16th. Five research analysts have rated the stock with a buy rating, Energous Corp. currently has a consensus rating of “Buy” and a consensus price target of $14.75.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/12/energous-corp-watt-raised-to-buy-at-zacks-investment-research.html
Energous Corp. (NASDAQ:WATT) traded down 1.73% during mid-day trading on Wednesday, hitting $15.93. 918,160 shares of the company were exchanged. Energous Corp. has a 12-month low of $3.65 and a 12-month high of $20.13. The company’s market capitalization is $271.50 million. The company’s 50-day moving average is $17.71 and its 200 day moving average is $13.03.
Energous Corp. (NASDAQ:WATT) last announced its quarterly earnings data on Tuesday, August 9th. The company reported ($0.62) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.62). Analysts expect that Energous Corp. will post ($1.95) EPS for the current year.
A number of hedge funds have recently modified their holdings of the stock. Creative Planning raised its stake in shares of Energous Corp. by 258.1% in the third quarter. Creative Planning now owns 5,490 shares of the company’s stock worth $108,000 after buying an additional 3,957 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Energous Corp. by 11.0% in the first quarter. Geode Capital Management LLC now owns 83,818 shares of the company’s stock worth $846,000 after buying an additional 8,306 shares in the last quarter. American International Group Inc. bought a new stake in shares of Energous Corp. during the second quarter worth $110,000. Thompson Davis & CO. Inc. bought a new stake in shares of Energous Corp. during the second quarter worth $113,000. Finally, Nationwide Fund Advisors bought a new stake in shares of Energous Corp. during the second quarter worth $122,000. Hedge funds and other institutional investors own 24.25% of the company’s stock.
About Energous Corp.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Energous Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Energous Corp. and related companies with MarketBeat.com's FREE daily email newsletter.