Energous Corp. (WATT) Sees Unusually-High Trading Volume
Shares of Energous Corp. (NASDAQ:WATT) saw strong trading volume on Tuesday . 1,010,897 shares changed hands during mid-day trading, an increase of 107% from the previous session’s volume of 489,017 shares.The stock last traded at $15.70 and had previously closed at $14.52.
A number of equities research analysts recently commented on the company. Oppenheimer Holdings Inc. reiterated an “outperform” rating and issued a $15.00 price objective (up previously from $13.00) on shares of Energous Corp. in a report on Tuesday, August 16th. Zacks Investment Research upgraded Energous Corp. from a “sell” rating to a “hold” rating in a report on Saturday, August 13th. One equities 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 $14.00.
The firm’s market capitalization is $271.15 million. The stock has a 50 day moving average of $12.93 and a 200 day moving average of $10.53.
Energous Corp. (NASDAQ:WATT) last issued its quarterly earnings results on Tuesday, August 9th. The company reported ($0.62) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.62). Analysts predict that Energous Corp. will post ($1.95) EPS for the current fiscal year.
In related news, major shareholder Gregory S. Tamkin sold 25,000 shares of the firm’s stock in a transaction 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 accessible through 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.