Energous Corp (NASDAQ:WATT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released 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. “

A number of other analysts have also recently issued reports on the company. Oppenheimer Holdings Inc. reaffirmed a “market perform” rating on shares of Energous Corp in a research report on Monday, March 13th. Ladenburg Thalmann Financial Services set a $18.00 price objective on Energous Corp and gave the company a “buy” rating in a research report on Thursday, March 9th. Roth Capital set a $23.00 price objective on Energous Corp and gave the company a “buy” rating in a research report on Thursday, May 11th. Finally, CIBC reissued a “market perform” rating on shares of Energous Corp in a report on Tuesday, January 24th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Energous Corp currently has an average rating of “Hold” and a consensus price target of $19.00.

Shares of Energous Corp (NASDAQ:WATT) traded down 0.66% on Tuesday, reaching $15.10. The company’s stock had a trading volume of 160,459 shares. Energous Corp has a 1-year low of $9.20 and a 1-year high of $20.55. The company’s 50 day moving average is $14.23 and its 200-day moving average is $15.44. The firm’s market cap is $311.29 million.

Energous Corp (NASDAQ:WATT) last released its quarterly earnings data on Wednesday, May 10th. The industrial products company reported ($0.61) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.56) by $0.05. The firm had revenue of $0.58 million during the quarter, compared to the consensus estimate of $0.50 million. Equities research analysts expect that Energous Corp will post ($2.21) EPS for the current year.

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In related news, VP Cesar Johnston sold 37,000 shares of Energous Corp stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $15.88, for a total transaction of $587,560.00. Following the completion of the sale, the vice president now directly owns 98,133 shares of the company’s stock, valued at approximately $1,558,352.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 6.20% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the company. Cadence Capital Management LLC boosted its stake in Energous Corp by 68.8% in the second quarter. Cadence Capital Management LLC now owns 41,270 shares of the industrial products company’s stock valued at $534,000 after buying an additional 16,820 shares during the last quarter. California State Teachers Retirement System acquired a new position in Energous Corp during the second quarter valued at about $402,000. Bank of New York Mellon Corp raised its position in Energous Corp by 165.6% in the second quarter. Bank of New York Mellon Corp now owns 46,260 shares of the industrial products company’s stock valued at $600,000 after buying an additional 28,843 shares in the last quarter. Hood River Capital Management LLC acquired a new position in Energous Corp during the second quarter valued at about $7,732,000. Finally, Bank of Montreal Can acquired a new position in Energous Corp during the second quarter valued at about $228,000. 33.11% of the stock is owned by institutional investors and hedge funds.

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.

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