Energous (NASDAQ:WATT) Share Price Passes Below Fifty Day Moving Average – Here’s Why
by Doug Wharley · The Cerbat GemEnergous Corporation (NASDAQ:WATT – Get Free Report)’s stock price passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $26.17 and traded as low as $23.80. Energous shares last traded at $24.60, with a volume of 174,018 shares trading hands.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on WATT shares. Weiss Ratings cut Energous from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, April 29th. Zacks Research raised Energous to a “hold” rating in a report on Friday, March 27th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce”.
Read Our Latest Research Report on WATT
Energous Stock Performance
The firm has a market cap of $131.94 million, a P/E ratio of -5.85 and a beta of 1.53. The firm’s fifty day moving average is $26.45 and its 200 day moving average is $15.57.
Insider Activity
In other news, CEO Mallorie Sara Burak bought 1,867 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The shares were bought at an average price of $26.47 per share, with a total value of $49,419.49. Following the completion of the transaction, the chief executive officer owned 26,999 shares of the company’s stock, valued at $714,663.53. This trade represents a 7.43% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.16% of the stock is currently owned by corporate insiders.
Institutional Trading of Energous
Several hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its stake in Energous by 85.4% in the 4th quarter. Geode Capital Management LLC now owns 18,713 shares of the industrial products company’s stock valued at $75,000 after purchasing an additional 8,619 shares during the period. Flagship Harbor Advisors LLC increased its position in Energous by 82.2% during the 4th quarter. Flagship Harbor Advisors LLC now owns 20,503 shares of the industrial products company’s stock worth $82,000 after buying an additional 9,250 shares during the period. Quantinno Capital Management LP acquired a new stake in shares of Energous during the first quarter worth $220,000. 3Chopt Investment Partners LLC acquired a new stake in shares of Energous during the first quarter worth $282,000. Finally, NewEdge Advisors LLC boosted its position in shares of Energous by 8,628.4% in the first quarter. NewEdge Advisors LLC now owns 31,946 shares of the industrial products company’s stock valued at $501,000 after acquiring an additional 31,580 shares during the period. 4.35% of the stock is owned by institutional investors and hedge funds.
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.