Hood River Capital Management LLC Takes Position in Energous Corp. (WATT)
Hood River Capital Management LLC purchased a new position in shares of Energous Corp. (NASDAQ:WATT) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 597,065 shares of the company’s stock, valued at approximately $7,732,000.
Other hedge funds have also made changes to their positions in the company. Wealthsource Partners LLC acquired a new stake in shares of Energous Corp. during the first quarter worth approximately $250,000. State Street Corp purchased a new stake in Energous Corp. during the first quarter valued at about $160,000. BlackRock Institutional Trust Company N.A. boosted its stake in Energous Corp. by 69.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 143,305 shares of the company’s stock valued at $1,447,000 after buying an additional 58,783 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in Energous Corp. during the first quarter valued at about $559,000. Finally, Geode Capital Management LLC boosted its stake in Energous Corp. by 11.0% in the first quarter. Geode Capital Management LLC now owns 83,818 shares of the company’s stock valued at $846,000 after buying an additional 8,306 shares in the last quarter. Institutional investors own 24.25% of the company’s stock.
Shares of Energous Corp. (NASDAQ:WATT) traded down 1.10% during trading on Thursday, hitting $17.90. 361,545 shares of the stock were exchanged. The stock’s market cap is $305.07 million. Energous Corp. has a 52-week low of $3.65 and a 52-week high of $20.13. The firm has a 50 day moving average of $17.28 and a 200-day moving average of $12.79.
Energous Corp. (NASDAQ:WATT) last announced its quarterly earnings results on Tuesday, August 9th. The company reported ($0.62) EPS for the quarter, hitting analysts’ consensus estimates of ($0.62). Equities research analysts anticipate that Energous Corp. will post ($1.95) earnings per share for the current fiscal year.
Several research firms have issued reports on WATT. Oppenheimer Holdings Inc. reiterated an “outperform” rating and issued a $15.00 target price (up from $13.00) on shares of Energous Corp. in a research note on Tuesday, August 16th. Zacks Investment Research upgraded shares of Energous Corp. from a “sell” rating to a “hold” rating in a research note on Saturday, August 13th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $14.00.
About Energous Corp.
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.
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