In yesterday’s Wall Street session, Energous Corporation (NASDAQ:WATT) shares traded at $0.24, down -9.11% from the previous session.
2 analysts cover Energous Corporation (NASDAQ:WATT), according to research data. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $1.75 and a low of $1.00, we find $1.38. Given the previous closing price of $0.27, this indicates a potential upside of 411.11 percent. WATT stock price is now -21.65% away from the 50-day moving average and -64.63% away from the 200-day moving average. The market capitalization of the company currently stands at $22.31M.
The stock has received a hold rating from 0 analysts and a buy rating from 2. Brokers who have rated the stock have averaged $1.38 as their price target over the next twelve months.
With the price target maintained at $6.50, Ladenburg Thalmann recently Upgraded its rating from Neutral to Buy for Energous Corporation (NASDAQ: WATT).
In other news, MANNINA WILLIAM T, Acting CFO (Interim) sold 22,356 shares of the company’s stock on Jun 01. The stock was sold for $6,640 at an average price of $0.30. Upon completion of the transaction, the Acting CFO (Interim) now directly owns 181,872 shares in the company, valued at $43649.28. An SEC document containing details of the transaction can be found on the SEC’s website. On May 15, Acting CFO (Interim) MANNINA WILLIAM T sold 3,981 shares of the business’s stock. A total of $1,201 was realized by selling the stock at an average price of $0.30. This leaves the insider owning 204,228 shares of the company worth $49014.72. Insiders disposed of 226,348 shares of company stock worth roughly $54323.52 over the past 1 year. A total of 1.50% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in WATT stock. A new stake in Energous Corporation shares was purchased by ARMISTICE CAPITAL, LLC during the first quarter worth $1,918,000. CITADEL ADVISORS LLC invested $49,000 in shares of WATT during the first quarter. In the first quarter, SQUAREPOINT OPS LLC acquired a new stake in Energous Corporation valued at approximately $44,000. VIRTU FINANCIAL LLC acquired a new stake in WATT for approximately $8,000. BARBER FINANCIAL GROUP, INC. purchased a new stake in WATT valued at around $3,000 in the second quarter. In total, there are 82 active investors with 9.40% ownership of the company’s stock.
On Wednesday morning Energous Corporation (NASDAQ: WATT) stock kicked off with the opening price of $0.2400. During the past 12 months, Energous Corporation has had a low of $0.18 and a high of $1.57. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 4.00, and a quick ratio of 4.00. The fifty day moving average price for WATT is $0.3095 and a two-hundred day moving average price translates $0.6873 for the stock.
The latest earnings results from Energous Corporation (NASDAQ: WATT) was released for Mar, 2023. According to the Scientific & Technical Instruments Company, earnings per share came in at -$0.06, beating analysts’ expectations of -$0.07 by 0.01. This compares to -$0.09 EPS in the same period last year. The company reported revenue of $97000.0 for the quarter, compared to $0.22 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -55.09 percent. For the current quarter, analysts expect WATT to generate $220k in revenue.
Energous Corporation(WATT) Company Profile
Energous Corporation develops wireless charging applications. The company develops WattUp wireless power technology that consists of semiconductor chipsets, software controls, hardware designs, and antennas that enables radio frequency-based charging for electronic devices. Its products are used in building and home automation, electronic shelf labels, industrial IoT sensors, surface and implanted medical devices, tracking devices, hearables, wearables, consumer electronics, and public safety applications. Energous Corporation was formerly known as DvineWave Inc. and changed its name to Energous Corporation in January 2014. Energous Corporation was incorporated in 2012 and is headquartered in San Jose, California.
