Energous (NASDAQ:WATT) Downgraded by Wall Street Zen to “Sell”

Wall Street Zen cut shares of Energous (NASDAQ:WATT) from a hold rating to a sell rating in a research note published on Saturday morning.

Separately, Weiss Ratings upgraded Energous from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Reduce”.

Energous Trading Up 4.4%

NASDAQ:WATT opened at $15.56 on Friday. The stock has a 50-day moving average price of $19.66 and a 200 day moving average price of $18.68. The stock has a market capitalization of $85.58 million, a P/E ratio of -3.80 and a beta of 1.58. Energous has a 12-month low of $3.62 and a 12-month high of $36.98.

Insider Activity at Energous

In other news, CEO Mallorie Sara Burak bought 1,867 shares of the stock in a transaction dated Wednesday, May 27th. The stock was purchased at an average cost of $26.47 per share, for a total transaction of $49,419.49. Following the transaction, the chief executive officer owned 26,999 shares of the company’s stock, valued at $714,663.53. The trade was a 7.43% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On Energous

A number of hedge funds have recently bought and sold shares of WATT. Geode Capital Management LLC lifted its position in Energous by 85.4% during the fourth quarter. Geode Capital Management LLC now owns 18,713 shares of the industrial products company’s stock valued at $75,000 after purchasing an additional 8,619 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Energous in the 2nd quarter worth $301,000. Quantinno Capital Management LP bought a new stake in shares of Energous in the 1st quarter worth about $220,000. 3Chopt Investment Partners LLC bought a new stake in shares of Energous in the 1st quarter worth about $282,000. Finally, NewEdge Advisors LLC lifted its holdings in shares of Energous by 8,628.4% in the 1st quarter. NewEdge Advisors LLC now owns 31,946 shares of the industrial products company’s stock valued at $501,000 after acquiring an additional 31,580 shares during the last quarter. Hedge funds and other institutional investors own 4.35% of the company’s stock.

Energous Company Profile

Energous Corporation develops and commercializes radio frequency (RF)–based wireless charging technology designed to deliver power over the air to compatible devices. Its WattUp platform includes near‐field and far‐field transmitters that emit targeted RF energy and receiver modules that convert that energy into electrical power. The company’s solutions aim to eliminate the need for cables and charging pads by enabling contactless power delivery to a range of products, from wearables and IoT sensors to medical devices and consumer electronics.