Energous Corporation (NASDAQ:WATT – Get Free Report)’s stock price crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $19.35 and traded as high as $26.50. Energous shares last traded at $23.67, with a volume of 696,014 shares changing hands.
Analysts Set New Price Targets
Several equities analysts have weighed in on the stock. Zacks Research raised shares of Energous to a “hold” rating in a report on Friday, March 27th. Weiss Ratings downgraded shares of Energous from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, April 29th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Energous currently has a consensus rating of “Reduce”.
Check Out Our Latest Analysis on Energous
Energous Stock Down 7.1%
Institutional Investors Weigh In On Energous
Several institutional investors and hedge funds have recently modified their holdings of the stock. AIGH Capital Management LLC bought a new stake in shares of Energous during the first quarter valued at approximately $3,373,000. Armistice Capital LLC bought a new stake in shares of Energous during the third quarter valued at approximately $1,202,000. GatePass Capital LLC bought a new stake in shares of Energous during the first quarter valued at approximately $1,820,000. Flagship Harbor Advisors LLC raised its position in shares of Energous by 82.2% during the fourth quarter. Flagship Harbor Advisors LLC now owns 20,503 shares of the industrial products company’s stock valued at $82,000 after buying an additional 9,250 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Energous by 85.4% during the fourth quarter. Geode Capital Management LLC now owns 18,713 shares of the industrial products company’s stock valued at $75,000 after buying an additional 8,619 shares during the last quarter. Institutional investors own 4.35% of the company’s stock.
Energous Company Profile
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.
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