Energous (NASDAQ:WATT) Stock Price Passes Below 50 Day Moving Average – Here’s Why

Shares of Energous Corporation (NASDAQ:WATT) passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $26.17 and traded as low as $23.80. Energous shares last traded at $24.60, with a volume of 174,018 shares traded.

Analysts Set New Price Targets

A number of brokerages have issued reports on WATT. Weiss Ratings downgraded shares of Energous from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, April 29th. Zacks Research upgraded Energous to a “hold” rating in a research report on Friday, March 27th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce”.

Energous Trading Down 4.6%

The stock has a market capitalization of $135.30 million, a P/E ratio of -6.00 and a beta of 1.53. The business has a 50-day moving average price of $26.17 and a 200 day moving average price of $15.33.

Insider Buying and Selling

In other Energous news, CEO Mallorie Sara Burak acquired 1,867 shares of the company’s stock in a transaction on Wednesday, May 27th. The stock was acquired at an average cost of $26.47 per share, with a total value of $49,419.49. Following the purchase, the chief executive officer directly owned 26,999 shares of the company’s stock, valued at approximately $714,663.53. This represents a 7.43% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.16% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in WATT. Geode Capital Management LLC grew its position in Energous by 85.4% in the fourth quarter. Geode Capital Management LLC now owns 18,713 shares of the industrial products company’s stock worth $75,000 after acquiring an additional 8,619 shares in the last quarter. Flagship Harbor Advisors LLC lifted its stake in shares of Energous by 82.2% in the 4th quarter. Flagship Harbor Advisors LLC now owns 20,503 shares of the industrial products company’s stock valued at $82,000 after purchasing an additional 9,250 shares during the last quarter. Quantinno Capital Management LP bought a new stake in shares of Energous in the 1st quarter valued at approximately $220,000. 3Chopt Investment Partners LLC purchased a new position in shares of Energous in the 1st quarter worth approximately $282,000. Finally, NewEdge Advisors LLC increased its position in shares of Energous by 8,628.4% during the 1st quarter. NewEdge Advisors LLC now owns 31,946 shares of the industrial products company’s stock valued at $501,000 after purchasing an additional 31,580 shares during the last quarter. 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.