CIBC reaffirmed their market perform rating on shares of Energous Corporation (NASDAQ:WATT) in a research note issued to investors on Tuesday morning.
Other equities analysts have also issued reports about the stock. Oppenheimer Holdings, Inc. restated a market perform rating on shares of Energous Corporation in a research report on Tuesday. Zacks Investment Research upgraded shares of Energous Corporation from a hold rating to a buy rating and set a $20.00 price target on the stock in a research report on Wednesday, January 11th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. Energous Corporation currently has an average rating of Hold and an average price target of $17.50.
Shares of Energous Corporation (NASDAQ:WATT) traded down 2.31% during midday trading on Tuesday, reaching $13.94. The company’s stock had a trading volume of 205,992 shares. Energous Corporation has a 12 month low of $4.59 and a 12 month high of $20.55. The firm’s market cap is $266.67 million. The company has a 50-day moving average price of $17.45 and a 200-day moving average price of $15.77.
Energous Corporation (NASDAQ:WATT) last posted its quarterly earnings results on Monday, November 7th. The company reported ($0.57) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.43) by $0.14. The company had revenue of $1 million for the quarter, compared to analysts’ expectations of $2.08 million. Equities analysts expect that Energous Corporation will post ($2.39) earnings per share for the current year.
In other Energous Corporation news, CFO Brian J. Sereda sold 1,853 shares of the business’s stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $13.85, for a total value of $25,664.05. Following the transaction, the chief financial officer now directly owns 70,545 shares in the company, valued at approximately $977,048.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Gaulding sold 19,013 shares of the business’s stock in a transaction dated Thursday, December 15th. The shares were sold at an average price of $17.00, for a total transaction of $323,221.00. Following the completion of the transaction, the director now owns 40,022 shares in the company, valued at $680,374. The disclosure for this sale can be found here. Insiders sold a total of 98,077 shares of company stock worth $1,487,977 over the last quarter. 6.20% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of WATT. Creative Planning increased its stake in Energous Corporation by 258.1% in the third quarter. Creative Planning now owns 5,490 shares of the company’s stock worth $108,000 after buying an additional 3,957 shares during the period. American International Group Inc. bought a new stake in Energous Corporation during the second quarter worth about $110,000. BlackRock Advisors LLC increased its stake in Energous Corporation by 33.2% in the third quarter. BlackRock Advisors LLC now owns 5,722 shares of the company’s stock worth $112,000 after buying an additional 1,425 shares during the period. Nationwide Fund Advisors bought a new stake in Energous Corporation during the second quarter worth about $122,000. Finally, Barclays PLC bought a new stake in Energous Corporation during the second quarter worth about $128,000. Institutional investors own 32.41% of the company’s stock.
About Energous Corporation
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.