Energous (NASDAQ:WATT) Shares Cross Above 50-Day Moving Average – Here’s Why

Energous Corporation (NASDAQ:WATT) shares crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $9.48 and traded as high as $14.11. Energous shares last traded at $12.61, with a volume of 315,501 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated 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.com, the company presently has an average rating of “Sell”.

Energous Stock Down 6.6%

The stock has a fifty day moving average of $9.48 and a two-hundred day moving average of $7.73. The stock has a market cap of $27.49 million, a price-to-earnings ratio of -0.70 and a beta of 0.80.

Hedge Funds Weigh In On Energous

A number of large investors have recently made changes to their positions in the stock. Geode Capital Management LLC lifted its stake in shares of Energous by 85.4% in the fourth quarter. Geode Capital Management LLC now owns 18,713 shares of the industrial products company’s stock valued at $75,000 after purchasing an additional 8,619 shares during the period. Flagship Harbor Advisors LLC grew its position in Energous by 82.2% during the fourth quarter. Flagship Harbor Advisors LLC now owns 20,503 shares of the industrial products company’s stock worth $82,000 after buying an additional 9,250 shares during the period. Finally, Armistice Capital LLC acquired a new position in Energous during the third quarter worth about $1,202,000. Hedge funds and other institutional investors 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.