Energous Corporation (WATT) Expected to Announce Quarterly Sales of $1.20 Million
Wall Street brokerages expect Energous Corporation (NASDAQ:WATT) to announce sales of $1.20 million for the current quarter, according to Zacks. Two analysts have made estimates for Energous Corporation’s earnings. The highest sales estimate is $2.00 million and the lowest is $400,000.00. Energous Corporation posted sales of $1.00 million during the same quarter last year, which indicates a positive year-over-year growth rate of 20%. The firm is expected to issue its next earnings report on Monday, November 6th.
According to Zacks, analysts expect that Energous Corporation will report full year sales of $1.20 million for the current financial year, with estimates ranging from $1.70 million to $7.74 million. For the next year, analysts expect that the business will report sales of $84.00 million per share. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Energous Corporation.
Energous Corporation (NASDAQ:WATT) last announced its quarterly earnings data on Tuesday, August 8th. The industrial products company reported ($0.63) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.63). Energous Corporation had a negative return on equity of 237.18% and a negative net margin of 2,495.17%. The firm had revenue of $0.30 million during the quarter, compared to the consensus estimate of $0.43 million.
A number of equities research analysts recently issued reports on WATT shares. BidaskClub lowered Energous Corporation from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 1st. ValuEngine lowered Energous Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Roth Capital set a $23.00 price target on Energous Corporation and gave the stock a “buy” rating in a research note on Monday, August 7th. Finally, Zacks Investment Research raised Energous Corporation from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research note on Friday, August 11th. Two research 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. Energous Corporation presently has an average rating of “Hold” and a consensus price target of $17.75.
In related news, VP Cesar Johnston sold 9,699 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $9.40, for a total transaction of $91,170.60. Following the completion of the sale, the vice president now directly owns 106,025 shares of the company’s stock, valued at approximately $996,635. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Neeraj Sahejpal sold 3,705 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $9.31, for a total value of $34,493.55. Following the sale, the vice president now directly owns 101,115 shares of the company’s stock, valued at $941,380.65. The disclosure for this sale can be found here. Insiders have sold a total of 48,786 shares of company stock valued at $535,442 over the last three months. 6.20% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Geode Capital Management LLC raised its position in Energous Corporation by 4.1% during the 1st quarter. Geode Capital Management LLC now owns 129,393 shares of the industrial products company’s stock valued at $2,018,000 after purchasing an additional 5,154 shares in the last quarter. Vanguard Group Inc. raised its position in Energous Corporation by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 632,792 shares of the industrial products company’s stock valued at $9,872,000 after purchasing an additional 27,875 shares in the last quarter. Robecosam AG bought a new stake in Energous Corporation during the 2nd quarter valued at $1,645,000. Wells Fargo & Company MN raised its position in Energous Corporation by 75.6% during the 1st quarter. Wells Fargo & Company MN now owns 30,217 shares of the industrial products company’s stock valued at $472,000 after purchasing an additional 13,013 shares in the last quarter. Finally, American International Group Inc. raised its position in Energous Corporation by 7.1% during the 1st quarter. American International Group Inc. now owns 9,130 shares of the industrial products company’s stock valued at $142,000 after purchasing an additional 607 shares in the last quarter. 36.84% of the stock is owned by institutional investors and hedge funds.
Energous Corporation (WATT) opened at 11.61 on Tuesday. Energous Corporation has a 1-year low of $8.91 and a 1-year high of $20.55. The stock’s 50 day moving average price is $12.18 and its 200 day moving average price is $13.75. The stock’s market capitalization is $254.25 million.
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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