Energous Corp (NASDAQ:WATT)’s share price traded down 9.4% on Wednesday . The company traded as low as $2.68 and last traded at $2.70. 545,400 shares changed hands during trading, a decline of 76% from the average session volume of 2,251,918 shares. The stock had previously closed at $2.98.
Separately, Zacks Investment Research lowered shares of Energous from a “buy” rating to a “sell” rating in a report on Thursday, August 20th.
The company has a debt-to-equity ratio of 0.05, a quick ratio of 6.38 and a current ratio of 6.38. The firm has a market cap of $114.07 million, a PE ratio of -2.71 and a beta of 3.95. The stock’s 50 day simple moving average is $3.33 and its 200 day simple moving average is $2.35.
Energous (NASDAQ:WATT) last released its quarterly earnings results on Wednesday, August 5th. The industrial products company reported ($0.20) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.18) by ($0.02). Energous had a negative return on equity of 171.68% and a negative net margin of 13,071.48%. The company had revenue of $0.11 million during the quarter, compared to analysts’ expectations of $0.10 million. As a group, analysts anticipate that Energous Corp will post -0.84 earnings per share for the current year.
In related news, VP Neeraj Sahejpal sold 10,177 shares of the company’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $3.30, for a total transaction of $33,584.10. Following the completion of the sale, the vice president now directly owns 286,620 shares in the company, valued at approximately $945,846. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Rahul G. Patel sold 7,712 shares of the company’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $3.30, for a total transaction of $25,449.60. Following the sale, the director now owns 14,021 shares of the company’s stock, valued at $46,269.30. The disclosure for this sale can be found here. Insiders sold a total of 55,460 shares of company stock valued at $187,626 in the last ninety days. 5.10% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. Wells Fargo & Company MN raised its holdings in Energous by 68.2% during the 1st quarter. Wells Fargo & Company MN now owns 57,451 shares of the industrial products company’s stock valued at $43,000 after buying an additional 23,299 shares during the last quarter. State Street Corp raised its holdings in Energous by 10.7% in the 1st quarter. State Street Corp now owns 473,298 shares of the industrial products company’s stock worth $352,000 after purchasing an additional 45,807 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Energous by 42.6% in the 1st quarter. Bank of New York Mellon Corp now owns 101,375 shares of the industrial products company’s stock worth $75,000 after purchasing an additional 30,273 shares in the last quarter. Alliancebernstein L.P. raised its holdings in Energous by 171.7% in the 1st quarter. Alliancebernstein L.P. now owns 51,900 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 32,800 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC bought a new position in Energous in the 2nd quarter worth $192,000. Institutional investors own 10.46% of the company’s stock.
Energous Company Profile (NASDAQ:WATT)
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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