Energous Corporation (WATT) Announces Quarterly Earnings Results, Meets Expectations
Energous Corporation (NASDAQ:WATT) issued its earnings results on Tuesday. The industrial products company reported ($0.63) earnings per share for the quarter, meeting the consensus estimate of ($0.63), Bloomberg Earnings reports. Energous Corporation had a negative return on equity of 224.53% and a negative net margin of 2,511.58%.
Energous Corporation (NASDAQ WATT) traded down 3.959% during midday trading on Wednesday, reaching $13.926. The company’s stock had a trading volume of 164,562 shares. The company’s 50-day moving average is $15.61 and its 200 day moving average is $15.29. Energous Corporation has a 12-month low of $11.80 and a 12-month high of $20.55. The firm’s market cap is $287.08 million.
Several equities research analysts have weighed in on the company. ValuEngine upgraded Energous Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Zacks Investment Research upgraded Energous Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, May 16th. Ladenburg Thalmann Financial Services reiterated a “buy” rating and issued a $18.00 price objective on shares of Energous Corporation in a report on Thursday, May 11th. BidaskClub cut Energous Corporation from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 1st. Finally, Roth Capital set a $23.00 price objective on Energous Corporation and gave the stock a “buy” rating in a report on Monday. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $19.00.
ILLEGAL ACTIVITY WARNING: This piece of content was first posted by Daily Political and is the property of of Daily Political. If you are viewing this piece of content on another website, it was illegally copied and reposted in violation of international copyright laws. The original version of this piece of content can be accessed at https://www.dailypolitical.com/2017/08/09/energous-corporation-watt-announces-quarterly-earnings-results-meets-expectations.html.
In related news, insider Brian J. Sereda sold 11,395 shares of the business’s stock in a transaction that occurred on Friday, July 14th. The stock was sold at an average price of $16.11, for a total value of $183,573.45. Following the completion of the sale, the insider now owns 133,577 shares in the company, valued at $2,151,925.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Neeraj Sahejpal sold 1,615 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $15.85, for a total value of $25,597.75. Following the completion of the sale, the vice president now owns 104,820 shares of the company’s stock, valued at approximately $1,661,397. The disclosure for this sale can be found here. Insiders sold 24,593 shares of company stock valued at $395,217 in the last quarter. 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.
Receive News & Ratings for Energous Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Energous Corporation and related companies with MarketBeat.com's FREE daily email newsletter.