Energous Corporation (NASDAQ:WATT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued 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. “

Other equities research analysts also recently issued research reports about the company. Roth Capital set a $23.00 price target on Energous Corporation and gave the company a “buy” rating in a research report on Monday, August 7th. ValuEngine raised Energous Corporation from a “strong sell” rating to a “sell” rating in a research report on Tuesday. Finally, BidaskClub downgraded Energous Corporation from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $18.67.

Shares of Energous Corporation (NASDAQ:WATT) traded down $0.33 during trading hours on Tuesday, hitting $8.46. The stock had a trading volume of 141,863 shares, compared to its average volume of 532,805. Energous Corporation has a twelve month low of $6.91 and a twelve month high of $20.55.

Energous Corporation (NASDAQ:WATT) last announced its quarterly earnings data on Wednesday, November 8th. The industrial products company reported ($0.58) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.55) by ($0.03). Energous Corporation had a negative net margin of 4,203.27% and a negative return on equity of 263.95%. The business had revenue of $0.25 million during the quarter, compared to analysts’ expectations of $1.20 million. analysts expect that Energous Corporation will post -2.15 EPS for the current year.

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In other Energous Corporation news, VP Cesar Johnston sold 15,000 shares of the business’s stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $12.55, for a total transaction of $188,250.00. Following the transaction, the vice president now owns 88,991 shares in the company, valued at $1,116,837.05. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Neeraj Sahejpal sold 3,705 shares of the business’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $9.31, for a total value of $34,493.55. Following the transaction, the vice president now owns 101,115 shares in the company, valued at approximately $941,380.65. The disclosure for this sale can be found here. In the last three months, insiders have sold 51,632 shares of company stock valued at $562,052. 6.20% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. American International Group Inc. lifted its stake in shares of Energous Corporation by 7.1% during the first quarter. American International Group Inc. now owns 9,130 shares of the industrial products company’s stock worth $142,000 after purchasing an additional 607 shares in the last quarter. Nationwide Fund Advisors lifted its stake in shares of Energous Corporation by 26.0% during the second quarter. Nationwide Fund Advisors now owns 10,741 shares of the industrial products company’s stock worth $175,000 after purchasing an additional 2,216 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Energous Corporation during the third quarter worth about $187,000. Frontier Investment Mgmt Co. acquired a new position in shares of Energous Corporation during the second quarter worth about $236,000. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Energous Corporation by 32.5% during the second quarter. The Manufacturers Life Insurance Company now owns 15,728 shares of the industrial products company’s stock worth $255,000 after purchasing an additional 3,855 shares in the last quarter. Institutional investors own 37.70% of the company’s stock.

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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