Short Interest in Energous Corporation (NASDAQ:WATT) Expands By 52.9%

Energous Corporation (NASDAQ:WATT) was the recipient of a significant increase in short interest in February. As of February 13th, there was short interest totaling 276,298 shares, an increase of 52.9% from the January 29th total of 180,673 shares. Currently, 12.7% of the shares of the stock are short sold. Based on an average daily volume of 358,939 shares, the short-interest ratio is presently 0.8 days. Based on an average daily volume of 358,939 shares, the short-interest ratio is presently 0.8 days. Currently, 12.7% of the shares of the stock are short sold.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Energous in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of “Sell”.

Institutional Trading of Energous

A number of institutional investors and hedge funds have recently bought and sold shares of WATT. Geode Capital Management LLC lifted its stake in Energous by 85.4% in the 4th quarter. Geode Capital Management LLC now owns 18,713 shares of the industrial products company’s stock worth $75,000 after purchasing an additional 8,619 shares in the last quarter. Flagship Harbor Advisors LLC increased its holdings in shares of Energous by 82.2% in the fourth quarter. Flagship Harbor Advisors LLC now owns 20,503 shares of the industrial products company’s stock worth $82,000 after purchasing an additional 9,250 shares during the last quarter. Finally, Armistice Capital LLC purchased a new stake in shares of Energous in the third quarter worth about $1,202,000. 4.35% of the stock is currently owned by institutional investors.

Energous Price Performance

Shares of WATT opened at $11.82 on Friday. Energous has a 1 year low of $3.62 and a 1 year high of $18.36. The company has a 50 day simple moving average of $7.41 and a two-hundred day simple moving average of $7.34. The firm has a market cap of $25.77 million, a P/E ratio of -0.65 and a beta of 0.95.

Energous Company Profile

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.