Energous Corporation (WATT) Expected to Post Quarterly Sales of $270,000.00

Equities research analysts forecast that Energous Corporation (NASDAQ:WATT) will report sales of $270,000.00 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made 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 reported sales of $130,000.00 in the same quarter last year, which would suggest a positive year-over-year growth rate of 107.7%. The firm is scheduled to announce its next 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 fiscal year, with estimates ranging from $1.16 million to $1.60 million. For the next financial year, analysts anticipate that the company will report sales of $13.35 million per share, with estimates ranging from $3.90 million to $22.80 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Energous.

Energous (NASDAQ:WATT) last issued its quarterly earnings results on Wednesday, November 8th. The industrial products company reported ($0.58) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.55) by ($0.03). The company had revenue of $0.25 million during the quarter, compared to analysts’ expectations of $1.20 million. Energous had a negative return on equity of 263.95% and a negative net margin of 4,203.27%.

WATT has been the topic of a number of analyst reports. Ladenburg Thalmann Financial Services lifted their price target on Energous from $20.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, January 3rd. Zacks Investment Research cut Energous from a “hold” rating to a “sell” rating in a research note on Tuesday, November 14th. ValuEngine raised Energous from a “sell” rating to a “hold” rating in a research note on Wednesday, December 27th. Finally, Roth Capital set a $45.80 price target on Energous and gave the stock a “buy” rating in a research note on Thursday, December 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. Energous has a consensus rating of “Hold” and an average target price of $30.93.

Energous (NASDAQ:WATT) opened at $18.01 on Monday. The firm has a market capitalization of $400.07, a PE ratio of -7.04 and a beta of 1.93. Energous has a 12 month low of $6.91 and a 12 month high of $33.50.

In other Energous news, VP Neeraj Sahejpal sold 2,846 shares of the firm’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $9.35, for a total transaction of $26,610.10. Following the completion of the sale, the vice president now directly owns 89,123 shares in the company, valued at approximately $833,300.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Gaulding sold 25,000 shares of the firm’s stock in a transaction dated Friday, December 29th. The stock was sold at an average price of $29.66, for a total value of $741,500.00. Following the sale, the director now owns 73,312 shares of the company’s stock, valued at $2,174,433.92. The disclosure for this sale can be found here. Insiders have sold a total of 282,562 shares of company stock valued at $7,128,895 over the last 90 days. Corporate insiders own 6.30% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Nationwide Fund Advisors boosted its position in Energous by 26.0% during the 2nd quarter. Nationwide Fund Advisors now owns 10,741 shares of the industrial products company’s stock worth $175,000 after acquiring an additional 2,216 shares during the period. Frontier Investment Mgmt Co. acquired a new stake in Energous during the 2nd quarter worth about $236,000. SG Americas Securities LLC acquired a new stake in shares of Energous during the 3rd quarter valued at about $187,000. The Manufacturers Life Insurance Company lifted its holdings in shares of Energous by 32.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,728 shares of the industrial products company’s stock valued at $255,000 after buying an additional 3,855 shares during the last quarter. Finally, Westside Investment Management Inc. lifted its holdings in shares of Energous by 9.1% during the 2nd quarter. Westside Investment Management Inc. now owns 18,025 shares of the industrial products company’s stock valued at $287,000 after buying an additional 1,500 shares during the last quarter. Hedge funds and other institutional investors own 38.97% of the company’s stock.

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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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