$270,000.00 in Sales Expected for Energous Corporation (WATT) This Quarter

Equities analysts predict that Energous Corporation (NASDAQ:WATT) will post sales of $270,000.00 for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Energous’ earnings, with the lowest sales estimate coming in at $30,000.00 and the highest estimate coming in at $500,000.00. Energous posted sales of $130,000.00 during the same quarter last year, which suggests a positive year-over-year growth rate of 107.7%. The company is scheduled to report its next quarterly earnings results on Wednesday, March 14th.

According to Zacks, analysts expect that Energous will report full-year sales of $270,000.00 for the current financial year, with estimates ranging from $1.16 million to $1.60 million. For the next financial year, analysts expect that the business will post sales of $13.35 million per share, with estimates ranging from $3.90 million to $22.80 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that cover Energous.

Energous (NASDAQ:WATT) last announced its quarterly earnings results 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 had a negative net margin of 4,203.27% and a negative return on equity of 263.95%. The firm had revenue of $0.25 million during the quarter, compared to the consensus estimate of $1.20 million.

A number of research analysts have recently commented on WATT shares. Zacks Investment Research cut Energous from a “hold” rating to a “sell” rating in a research note on Tuesday, November 14th. ValuEngine upgraded Energous from a “strong sell” rating to a “sell” rating in a research note on Tuesday, November 14th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. Energous currently has an average rating of “Hold” and an average target price of $18.67.

In related news, VP Cesar Johnston sold 15,000 shares of the firm’s stock in a transaction on Tuesday, September 26th. The stock was sold at an average price of $12.55, for a total transaction of $188,250.00. Following the completion of the transaction, the vice president now directly owns 88,991 shares of the company’s stock, valued at approximately $1,116,837.05. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Neeraj Sahejpal sold 2,846 shares of the firm’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $9.35, for a total value of $26,610.10. Following the transaction, the vice president now directly owns 89,123 shares of the company’s stock, valued at $833,300.05. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,097 shares of company stock valued at $234,516. 6.30% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in the stock. Hood River Capital Management LLC raised its position in Energous by 2.3% during the 2nd quarter. Hood River Capital Management LLC now owns 1,334,815 shares of the industrial products company’s stock worth $21,704,000 after purchasing an additional 30,400 shares during the last quarter. Vanguard Group Inc. raised its position in Energous by 12.0% during the 2nd quarter. Vanguard Group Inc. now owns 708,654 shares of the industrial products company’s stock worth $11,523,000 after purchasing an additional 75,862 shares during the last quarter. State Street Corp raised its position in Energous by 11.4% during the 2nd quarter. State Street Corp now owns 258,523 shares of the industrial products company’s stock worth $4,203,000 after purchasing an additional 26,538 shares during the last quarter. Northern Trust Corp raised its position in Energous by 27.8% during the 2nd quarter. Northern Trust Corp now owns 215,155 shares of the industrial products company’s stock worth $3,498,000 after purchasing an additional 46,799 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Energous by 4.1% during the 1st quarter. Geode Capital Management LLC now owns 129,393 shares of the industrial products company’s stock worth $2,018,000 after purchasing an additional 5,154 shares during the last quarter. 38.97% of the stock is owned by institutional investors and hedge funds.

Energous (NASDAQ WATT) opened at $9.26 on Wednesday. Energous has a 12 month low of $6.91 and a 12 month high of $20.55.

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Energous 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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Earnings History and Estimates for Energous (NASDAQ:WATT)

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