Energous (NASDAQ:WATT) Shares Cross Above 50 Day Moving Average – Time to Sell?

Energous Corporation (NASDAQ:WATT) shares passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $5.72 and traded as high as $9.30. Energous shares last traded at $9.05, with a volume of 160,983 shares traded.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Energous in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Energous currently has a consensus rating of “Sell”.

Energous Stock Up 5.8%

The firm has a market capitalization of $19.73 million, a PE ratio of -0.50 and a beta of 0.95. The company’s 50-day simple moving average is $5.72 and its 200 day simple moving average is $7.44.

Hedge Funds Weigh In On Energous

An institutional investor recently bought a new position in Energous stock. Armistice Capital LLC acquired a new stake in shares of Energous Corporation (NASDAQ:WATT) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 155,636 shares of the industrial products company’s stock, valued at approximately $1,202,000. Armistice Capital LLC owned about 8.53% of Energous at the end of the most recent quarter. Institutional investors and hedge funds own 4.35% of the company’s stock.

About Energous

Energous Corporation develops and commercializes radio frequency (RF)–based wireless charging technology designed to deliver power over the air to compatible devices. Its WattUp platform includes near‐field and far‐field transmitters that emit targeted RF energy and receiver modules that convert that energy into electrical power. The company’s solutions aim to eliminate the need for cables and charging pads by enabling contactless power delivery to a range of products, from wearables and IoT sensors to medical devices and consumer electronics.