Energous Corporation (WATT) Releases Earnings Results, Hits Estimates
Energous Corporation (NASDAQ:WATT) posted its earnings results on Tuesday. The industrial products company reported ($0.63) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.63), Bloomberg Earnings reports. Energous Corporation had a negative net margin of 2,511.58% and a negative return on equity of 224.53%.
Shares of Energous Corporation (NASDAQ WATT) traded up 3.65% during mid-day trading on Tuesday, reaching $14.50. The company had a trading volume of 403,132 shares. Energous Corporation has a 1-year low of $11.80 and a 1-year high of $20.55. The stock’s 50-day moving average price is $15.61 and its 200 day moving average price is $15.29. The company’s market capitalization is $298.92 million.
A number of research analysts recently weighed in on WATT shares. Roth Capital set a $23.00 target price on shares of Energous Corporation and gave the company a “buy” rating in a report on Thursday, May 11th. Ladenburg Thalmann Financial Services restated a “buy” rating and issued a $18.00 price target on shares of Energous Corporation in a research report on Thursday, May 11th. Zacks Investment Research upgraded Energous Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, May 16th. ValuEngine upgraded Energous Corporation from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, BidaskClub downgraded Energous Corporation from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. Energous Corporation currently has an average rating of “Hold” and a consensus target price of $19.00.
In other news, Director John Gaulding sold 2,140 shares of the stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $15.85, for a total transaction of $33,919.00. Following the completion of the transaction, the director now directly owns 86,155 shares in the company, valued at approximately $1,365,556.75. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Neeraj Sahejpal sold 1,615 shares of the stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $15.85, for a total value of $25,597.75. Following the transaction, the vice president now owns 104,820 shares of the company’s stock, valued at $1,661,397. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,593 shares of company stock valued at $395,217. 6.20% of the stock is owned by company 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.
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