Cadence Capital Management LLC Boosts Stake in Energous Corporation (WATT)
Cadence Capital Management LLC increased its stake in Energous Corporation (NASDAQ:WATT) by 26.9% during the fourth quarter, Holdings Channel reports. The firm owned 37,230 shares of the company’s stock after buying an additional 7,900 shares during the period. Cadence Capital Management LLC owned approximately 0.19% of Energous Corporation worth $627,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of WATT. Russell Investments Group Ltd. bought a new position in shares of Energous Corporation during the fourth quarter valued at about $666,000. Doheny Asset Management CA increased its position in shares of Energous Corporation by 1.1% in the third quarter. Doheny Asset Management CA now owns 492,450 shares of the company’s stock valued at $9,657,000 after buying an additional 5,550 shares during the period. Oppenheimer & Co. Inc. bought a new position in shares of Energous Corporation during the third quarter valued at about $227,000. Wells Fargo & Company MN increased its position in shares of Energous Corporation by 28.7% in the third quarter. Wells Fargo & Company MN now owns 9,654 shares of the company’s stock valued at $190,000 after buying an additional 2,154 shares during the period. Finally, Creative Planning increased its position in shares of Energous Corporation by 258.1% in the third quarter. Creative Planning now owns 5,490 shares of the company’s stock valued at $108,000 after buying an additional 3,957 shares during the period. Institutional investors and hedge funds own 33.11% of the company’s stock.
Energous Corporation (NASDAQ:WATT) opened at 16.78 on Friday. The company’s 50-day moving average is $16.63 and its 200 day moving average is $16.13. Energous Corporation has a 12 month low of $5.89 and a 12 month high of $20.55. The firm’s market cap is $321.00 million.
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Several research analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Energous Corporation from a “hold” rating to a “sell” rating in a research report on Friday, January 27th. CIBC reiterated a “market perform” rating on shares of Energous Corporation in a research report on Tuesday, January 24th. Finally, Oppenheimer Holdings, Inc. reiterated a “market perform” rating on shares of Energous Corporation in a research report on Tuesday, January 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. Energous Corporation has a consensus rating of “Hold” and an average price target of $17.50.
In other Energous Corporation news, Director John Gaulding sold 14,651 shares of the stock in a transaction on Friday, January 6th. The stock was sold at an average price of $16.93, for a total transaction of $248,041.43. Following the transaction, the director now owns 21,202 shares in the company, valued at approximately $358,949.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.20% of the stock is owned by company insiders.
About Energous Corporation
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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