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

Energous Corporation (NASDAQ:WATT)’s stock price passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $8.01 and traded as high as $8.22. Energous shares last traded at $7.63, with a volume of 67,590 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Wall Street Zen upgraded shares of Energous to a “hold” rating in a research report on Friday, July 18th. Weiss Ratings restated a “sell (e+)” rating on shares of Energous in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Energous Stock Down 1.9%

The company’s fifty day moving average is $8.01 and its two-hundred day moving average is $8.83. The firm has a market capitalization of $13.92 million, a price-to-earnings ratio of -0.24 and a beta of 0.60.

Energous (NASDAQ:WATT) last posted its earnings results on Tuesday, July 29th. The industrial products company reported ($2.40) earnings per share for the quarter, topping the consensus estimate of ($25.80) by $23.40. The company had revenue of $0.98 million for the quarter, compared to analyst estimates of $0.59 million. Energous had a negative net margin of 1.40% and a negative return on equity of 282.11%. On average, equities research analysts expect that Energous Corporation will post -3.01 EPS for the current year.

Insider Buying and Selling

In other Energous news, CEO Mallorie Sara Burak acquired 6,400 shares of the company’s stock in a transaction that occurred on Thursday, August 21st. The shares were acquired at an average price of $7.88 per share, with a total value of $50,432.00. Following the purchase, the chief executive officer owned 10,132 shares of the company’s stock, valued at $79,840.16. This represents a 171.49% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.08% of the company’s stock.

Energous Company Profile

Energous Corporation provides wireless charging system solutions in the United States. The company develops WattUp wireless power networks technology that consists of semiconductor chipsets; software controls; hardware designs; and antennas that enables radio frequency-based charging for Internet of Things devices.