Energous (NASDAQ:WATT) announced its quarterly earnings results on Thursday. The industrial products company reported ($0.27) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.03, Fidelity Earnings reports. The firm had revenue of $0.04 million for the quarter, compared to the consensus estimate of $0.40 million. Energous had a negative return on equity of 172.39% and a negative net margin of 11,509.27%.
Shares of NASDAQ:WATT traded down $0.51 during midday trading on Friday, reaching $2.32. 1,777,900 shares of the company’s stock traded hands, compared to its average volume of 613,482. Energous has a one year low of $1.93 and a one year high of $11.54. The stock has a 50 day moving average of $3.20 and a 200 day moving average of $3.97. The company has a market cap of $86.09 million, a price-to-earnings ratio of -1.17 and a beta of 1.74.
In related news, COO Cesar Johnston sold 16,875 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $3.58, for a total transaction of $60,412.50. Following the completion of the sale, the chief operating officer now owns 303,971 shares in the company, valued at $1,088,216.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brian J. Sereda sold 10,313 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $3.58, for a total value of $36,920.54. Following the sale, the chief financial officer now owns 159,386 shares of the company’s stock, valued at approximately $570,601.88. The disclosure for this sale can be found here. Insiders have sold 37,101 shares of company stock valued at $131,765 in the last quarter. 7.00% of the stock is currently owned by company insiders.
WATT has been the topic of a number of research analyst reports. Roth Capital lowered their price target on Energous from $8.20 to $7.00 and set a “buy” rating on the stock in a report on Friday. Zacks Investment Research reaffirmed a “buy” rating and set a $5.25 price target on shares of Energous in a report on Saturday, July 20th. Finally, ValuEngine raised Energous from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $6.25.
Energous Corporation develops wire-free charging solutions. The company develops WattUp wireless power technology that consists of semiconductor chipsets, software controls, hardware designs, and antennas that enables radio frequency based wire-free charging for electronic devices. It has a collaboration with vivo Global to explore integrating WattUp into smartphone designs that charge wirelessly over-the-air.
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