Energous (NASDAQ:WATT) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a report released on Monday.

Several other brokerages have also weighed in on WATT. BidaskClub lowered shares of Energous from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 16th. National Securities reaffirmed a “buy” rating and set a $35.00 target price on shares of Energous in a research note on Sunday, August 5th. Roth Capital lowered their target price on shares of Energous from $48.50 to $24.50 and set a “buy” rating for the company in a research note on Thursday, August 2nd. Finally, Zacks Investment Research lowered shares of Energous from a “buy” rating to a “hold” rating in a research note on Friday, June 1st. Two research analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $27.88.

WATT stock traded down $0.04 during mid-day trading on Monday, hitting $10.39. 301,300 shares of the company were exchanged, compared to its average volume of 1,322,489. The firm has a market cap of $267.21 million, a PE ratio of -4.50 and a beta of 1.45. Energous has a 12-month low of $6.91 and a 12-month high of $33.50.

Energous (NASDAQ:WATT) last announced its earnings results on Wednesday, August 1st. The industrial products company reported ($0.48) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.54) by $0.06. The company had revenue of $0.21 million during the quarter, compared to analyst estimates of $0.22 million. Energous had a negative net margin of 9,750.39% and a negative return on equity of 182.29%. sell-side analysts anticipate that Energous will post -2.06 EPS for the current fiscal year.

In other news, insider Brian J. Sereda sold 4,010 shares of the stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $12.59, for a total transaction of $50,485.90. Following the sale, the insider now owns 115,652 shares of the company’s stock, valued at $1,456,058.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brian J. Sereda sold 10,540 shares of the stock in a transaction dated Monday, July 16th. The stock was sold at an average price of $15.54, for a total transaction of $163,791.60. Following the sale, the insider now directly owns 130,202 shares in the company, valued at approximately $2,023,339.08. The disclosure for this sale can be found here. Insiders have sold 37,082 shares of company stock worth $523,856 in the last three months. Corporate insiders own 6.80% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of WATT. BlackRock Inc. lifted its position in shares of Energous by 21.2% during the second quarter. BlackRock Inc. now owns 1,622,437 shares of the industrial products company’s stock worth $24,060,000 after purchasing an additional 283,821 shares in the last quarter. Marble Arch Investments LP acquired a new stake in shares of Energous during the first quarter worth about $754,000. Northern Trust Corp lifted its position in shares of Energous by 21.9% during the second quarter. Northern Trust Corp now owns 254,363 shares of the industrial products company’s stock worth $3,772,000 after purchasing an additional 45,684 shares in the last quarter. Bradley Foster & Sargent Inc. CT acquired a new stake in shares of Energous during the second quarter worth about $458,000. Finally, Natixis acquired a new stake in shares of Energous during the second quarter worth about $370,000. 23.88% of the stock is currently owned by institutional investors and hedge funds.

Energous Company Profile

Energous Corporation engages in the development of a wire-free charging system. It develops WattUp that consists of semiconductor chipsets, software, hardware designs, and antennas that enables radio frequency based wire-free charging for electronic devices, providing power at a distance and enables charging with mobility under software control.

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