$500,000.00 in Sales Expected for Energous Corp (WATT) This Quarter
Wall Street brokerages expect Energous Corp (NASDAQ:WATT) to announce $500,000.00 in sales for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Energous Corp’s earnings. Energous Corp posted sales of $140,000.00 during the same quarter last year, which suggests a positive year-over-year growth rate of 257.1%. The business is scheduled to report its next earnings results on Tuesday, May 9th.
On average, analysts expect that Energous Corp will report full year sales of $500,000.00 for the current fiscal year, with estimates ranging from $8.69 million to $10 million. For the next financial year, analysts anticipate that the company will post sales of $84 million per share. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Energous Corp.
Energous Corp (NASDAQ:WATT) last posted its quarterly earnings results on Wednesday, March 8th. The industrial products company reported ($0.75) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.54) by $0.21. The firm had revenue of $0.13 million for the quarter, compared to analysts’ expectations of $0.60 million.
WATT has been the subject of several research reports. Zacks Investment Research raised shares of Energous Corp from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research note on Wednesday, January 11th. Oppenheimer Holdings Inc. reaffirmed a “market perform” rating on shares of Energous Corp in a research note on Monday, March 13th. Ladenburg Thalmann Financial Services set a $18.00 price objective on shares of Energous Corp and gave the company a “buy” rating in a research note on Thursday, March 9th. Finally, CIBC reaffirmed a “market perform” rating on shares of Energous Corp in a research note on Tuesday, January 24th.
Energous Corp (NASDAQ:WATT) traded up 0.83% during mid-day trading on Friday, hitting $14.60. 68,150 shares of the stock traded hands. Energous Corp has a 12 month low of $9.20 and a 12 month high of $20.55. The stock has a 50-day moving average price of $15.08 and a 200-day moving average price of $15.89. The stock’s market cap is $299.67 million.
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In related news, VP Cesar Johnston sold 37,000 shares of the company’s stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $15.88, for a total transaction of $587,560.00. Following the completion of the sale, the vice president now owns 98,133 shares of the company’s stock, valued at approximately $1,558,352.04. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 6.20% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. acquired a new stake in shares of Energous Corp during the fourth quarter valued at about $666,000. Oppenheimer & Co. Inc. acquired a new stake in shares of Energous Corp during the third quarter valued at about $227,000. State Street Corp boosted its stake in shares of Energous Corp by 4.2% in the fourth quarter. State Street Corp now owns 229,297 shares of the industrial products company’s stock valued at $3,862,000 after buying an additional 9,216 shares in the last quarter. Cadence Capital Management LLC boosted its stake in shares of Energous Corp by 26.9% in the fourth quarter. Cadence Capital Management LLC now owns 37,230 shares of the industrial products company’s stock valued at $627,000 after buying an additional 7,900 shares in the last quarter. Finally, Doheny Asset Management CA boosted its stake in shares of Energous Corp by 1.1% in the third quarter. Doheny Asset Management CA now owns 492,450 shares of the industrial products company’s stock valued at $9,657,000 after buying an additional 5,550 shares in the last quarter. 33.11% of the stock is owned by institutional investors.
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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