Short Interest in Energous Corp. (WATT) Rises By 29.5%
Energous Corp. (NASDAQ:WATT) was the target of a significant increase in short interest during the month of September. As of September 15th, there was short interest totalling 3,553,007 shares, an increase of 29.5% from the August 31st total of 2,743,686 shares. Approximately 22.5% of the company’s shares are short sold. Based on an average daily trading volume, of 2,002,218 shares, the short-interest ratio is currently 1.8 days.
A number of equities analysts have recently weighed in on WATT shares. Zacks Investment Research raised shares of Energous Corp. from a “sell” rating to a “hold” rating in a research report on Saturday, August 13th. Oppenheimer Holdings Inc. reissued an “outperform” rating and issued a $15.00 price objective (up previously from $13.00) on shares of Energous Corp. in a research report on Tuesday, August 16th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Energous Corp. has an average rating of “Buy” and a consensus price target of $13.67.
Shares of Energous Corp. (NASDAQ:WATT) opened at 17.90 on Friday. Energous Corp. has a 12-month low of $3.65 and a 12-month high of $20.13. The company has a 50-day moving average of $17.39 and a 200-day moving average of $12.83. The stock’s market capitalization is $305.07 million.
Energous Corp. (NASDAQ:WATT) last posted its quarterly earnings data on Tuesday, August 9th. The company reported ($0.62) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.62). Equities analysts expect that Energous Corp. will post ($1.95) earnings per share for the current fiscal year.
Institutional investors have recently bought and sold shares of the stock. Hood River Capital Management LLC acquired a new position in Energous Corp. during the second quarter valued at $7,732,000. Vanguard Group Inc. raised its position in Energous Corp. by 12.1% in the second quarter. Vanguard Group Inc. now owns 504,743 shares of the company’s stock valued at $6,537,000 after buying an additional 54,470 shares during the period. BlackRock Fund Advisors raised its position in Energous Corp. by 1,054.0% in the second quarter. BlackRock Fund Advisors now owns 384,780 shares of the company’s stock valued at $4,983,000 after buying an additional 351,438 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in Energous Corp. by 115.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 309,342 shares of the company’s stock valued at $4,006,000 after buying an additional 166,037 shares during the period. Finally, State Street Corp raised its position in Energous Corp. by 1,021.8% in the second quarter. State Street Corp now owns 178,364 shares of the company’s stock valued at $2,310,000 after buying an additional 162,464 shares during the period. Institutional investors own 24.25% of the company’s stock.
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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