Zacks Investment Research downgraded shares of Energous (NASDAQ:WATT) from a hold rating to a sell rating in a research report sent to investors on Friday morning, Zacks.com reports.

According to Zacks, “Energous Corporation is a developer of a disruptive wire-free charging technology. It solutions enables wireless charging or powering of electronic devices at distance. The wireless charging solution, it is developing employs three dimensional (3D) pocketforming. Energous Corporation is headquartered in Pleasanton, California. “

A number of other brokerages also recently weighed in on WATT. BidaskClub upgraded shares of Energous from a sell rating to a hold rating in a research report on Wednesday, February 20th. ValuEngine downgraded shares of Energous from a hold rating to a sell rating in a research report on Wednesday, January 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. The company has an average rating of Hold and an average price target of $22.00.

Energous stock opened at $5.21 on Friday. Energous has a 1 year low of $4.41 and a 1 year high of $21.00. The stock has a market cap of $160.64 million, a price-to-earnings ratio of -2.62 and a beta of 1.97.

Energous (NASDAQ:WATT) last released its earnings results on Wednesday, February 27th. The industrial products company reported ($0.48) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.48). Energous had a negative net margin of 9,871.85% and a negative return on equity of 164.83%. Equities research analysts anticipate that Energous will post -1.24 earnings per share for the current year.

In related news, EVP Cesar Johnston sold 8,089 shares of the stock in a transaction that occurred on Wednesday, January 30th. The shares were sold at an average price of $7.40, for a total value of $59,858.60. Following the sale, the executive vice president now directly owns 176,879 shares in the company, valued at approximately $1,308,904.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian J. Sereda sold 3,792 shares of the stock in a transaction that occurred on Wednesday, January 30th. The shares were sold at an average price of $7.40, for a total transaction of $28,060.80. Following the completion of the sale, the insider now owns 124,391 shares in the company, valued at $920,493.40. The disclosure for this sale can be found here. Insiders sold a total of 26,006 shares of company stock worth $179,734 over the last quarter. 6.80% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in WATT. SG Americas Securities LLC acquired a new stake in shares of Energous in the 4th quarter valued at approximately $1,353,000. Raging Capital Management LLC acquired a new stake in Energous during the 4th quarter worth approximately $770,000. Vanguard Group Inc raised its holdings in Energous by 7.6% during the 3rd quarter. Vanguard Group Inc now owns 993,462 shares of the industrial products company’s stock worth $10,054,000 after buying an additional 70,325 shares during the period. Vanguard Group Inc. raised its holdings in Energous by 7.6% during the 3rd quarter. Vanguard Group Inc. now owns 993,462 shares of the industrial products company’s stock worth $10,054,000 after buying an additional 70,325 shares during the period. Finally, Morgan Stanley raised its holdings in Energous by 40.1% during the 3rd quarter. Morgan Stanley now owns 198,013 shares of the industrial products company’s stock worth $2,004,000 after buying an additional 56,647 shares during the period. Institutional investors and hedge funds own 27.34% of the company’s stock.

Energous Company Profile

Energous Corporation develops wire-free charging solutions. The company develops WattUp wireless power technology that consists of semiconductor chipsets, software controls, hardware designs, and antennas that enables radio frequency based wire-free charging for electronic devices. It has a collaboration with vivo Global to explore integrating WattUp into smartphone designs that charge wirelessly over-the-air.

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