Energous Corp. (WATT) Shares Up 5.1%
Energous Corp. (NASDAQ:WATT) shares shot up 5.1% on Thursday . The company traded as high as $13.00 and last traded at $12.86, with a volume of 294,243 shares changing hands. The stock had previously closed at $12.24.
A number of research firms have recently weighed in on WATT. Zacks Investment Research upgraded Energous Corp. from a “sell” rating to a “hold” rating in a report on Thursday, May 12th. Oppenheimer Holdings Inc. restated an “outperform” rating and issued a $13.00 target price on shares of Energous Corp. in a report on Friday, May 13th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Energous Corp. presently has an average rating of “Buy” and an average target price of $13.50.
The company has a 50 day moving average price of $12.01 and a 200 day moving average price of $9.66. The firm’s market cap is $208.25 million.
Energous Corp. (NASDAQ:WATT) last released its quarterly earnings results on Tuesday, May 10th. The company reported ($0.66) EPS for the quarter, missing analysts’ consensus estimates of ($0.52) by $0.14. Equities research analysts anticipate that Energous Corp. will post ($2.03) EPS for the current fiscal year.
In other Energous Corp. news, major shareholder Gregory S. Tamkin sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 1st. The stock was sold at an average price of $10.57, for a total transaction of $264,250.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Energous Corporation is engaged in developing a technology called WattUp that consists of semiconductor chipsets, software, hardware designs and antennas that can enable radio frequency (RF)-based wire-free charging for electronic devices, providing power at a distance and enabling charging with mobility under software control.