Zacks: Brokerages Anticipate Energous Corporation (WATT) to Post -$0.59 EPS

Equities research analysts expect Energous Corporation (NASDAQ:WATT) to post ($0.59) earnings per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Energous’ earnings, with the highest EPS estimate coming in at ($0.57) and the lowest estimate coming in at ($0.61). Energous reported earnings of ($0.75) per share in the same quarter last year, which suggests a positive year-over-year growth rate of 21.3%. The firm is scheduled to report its next quarterly earnings report on Wednesday, March 14th.

According to Zacks, analysts expect that Energous will report full year earnings of ($2.18) per share for the current financial year, with EPS estimates ranging from ($2.44) to ($1.72). For the next financial year, analysts anticipate that the firm will report earnings of ($1.57) per share, with EPS estimates ranging from ($2.32) to ($0.71). Zacks’ EPS averages are an average based on a survey of research analysts that cover Energous.

Energous (NASDAQ:WATT) last posted 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). The business had revenue of $0.25 million during the quarter, compared to analysts’ expectations of $1.20 million. Energous had a negative net margin of 4,203.27% and a negative return on equity of 263.95%.

A number of research firms have recently commented on WATT. Roth Capital set a $45.80 price objective on Energous and gave the company a “buy” rating in a research report on Thursday, December 28th. ValuEngine upgraded Energous from a “sell” rating to a “hold” rating in a research report on Wednesday, December 27th. Ladenburg Thalmann Financial Services boosted their price objective on Energous from $20.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, January 3rd. Finally, Zacks Investment Research upgraded Energous from a “sell” rating to a “hold” rating in a research report on Saturday, January 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $30.93.

Energous (WATT) traded up $1.20 during trading on Tuesday, hitting $18.94. The stock had a trading volume of 2,112,705 shares, compared to its average volume of 4,584,029. The stock has a market capitalization of $420.73, a PE ratio of -7.40 and a beta of 1.71. Energous has a 1-year low of $6.91 and a 1-year high of $33.50.

In related news, VP Neeraj Sahejpal sold 2,846 shares of the business’s stock in a transaction that occurred on 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 $833,300.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Gaulding sold 25,000 shares of the business’s stock in a transaction that occurred on 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 282,562 shares of company stock valued at $7,128,895 over the last quarter. 6.30% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Calton & Associates Inc. acquired a new position in Energous during the fourth quarter worth $150,000. Wells Fargo & Company MN boosted its stake in Energous by 223.0% during the third quarter. Wells Fargo & Company MN now owns 63,637 shares of the industrial products company’s stock worth $806,000 after buying an additional 43,937 shares during the last quarter. SG Americas Securities LLC acquired a new position in Energous during the third quarter worth $187,000. Bank of New York Mellon Corp boosted its stake in Energous by 26.6% during the third quarter. Bank of New York Mellon Corp now owns 70,761 shares of the industrial products company’s stock worth $896,000 after buying an additional 14,858 shares during the last quarter. Finally, Leisure Capital Management boosted its stake in Energous by 57.0% during the third quarter. Leisure Capital Management now owns 34,540 shares of the industrial products company’s stock worth $437,000 after buying an additional 12,546 shares during the last quarter. 38.33% of the stock is currently owned by institutional investors.

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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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