Energous Corp. (WATT) Stock Rating Lowered by Zacks Investment Research
Energous Corp. (NASDAQ:WATT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.
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 report on Tuesday, August 16th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price 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 http://www.americanbankingnews.com/2016/10/18/energous-corp-watt-stock-rating-lowered-by-zacks-investment-research.html
Energous Corp. (NASDAQ:WATT) traded down 0.06% during midday trading on Tuesday, hitting $16.23. The company had a trading volume of 31,241 shares. Energous Corp. has a 52-week low of $3.65 and a 52-week high of $20.13. The firm’s market cap is $276.61 million. The stock has a 50 day moving average of $17.66 and a 200 day moving average of $13.21.
Energous Corp. (NASDAQ:WATT) last released its quarterly earnings data on Tuesday, August 9th. The company reported ($0.62) EPS for the quarter, meeting the consensus estimate of ($0.62). On average, analysts anticipate that Energous Corp. will post ($1.95) EPS for the current year.
Several hedge funds have recently made changes to their positions in the company. 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 during the last quarter. Advisory Services Network LLC purchased a new position in Energous Corp. during the third quarter worth approximately $699,000. Royal Bank of Canada purchased a new position in Energous Corp. during the second quarter worth approximately $272,000. Schwab Charles Investment Management Inc. purchased a new position in Energous Corp. during the second quarter worth approximately $305,000. Finally, Barclays PLC purchased a new position in Energous Corp. during the second quarter worth approximately $128,000. 24.28% of the stock is currently owned by institutional investors and hedge funds.
Energous Corp. 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.
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.