Energous (NASDAQ:WATT) Stock Price Crosses Above Fifty Day Moving Average – Time to Sell?

Energous Corporation (NASDAQ:WATT)’s share price passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $12.47 and traded as high as $16.61. Energous shares last traded at $15.19, with a volume of 335,703 shares traded.

Analyst Upgrades and Downgrades

WATT has been the topic of a number of recent analyst reports. Zacks Research raised shares of Energous to a “hold” rating in a research report on Friday, March 27th. Weiss Ratings reissued a “sell (e+)” rating on shares of Energous in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Reduce”.

Energous Price Performance

The firm has a market capitalization of $83.55 million, a PE ratio of -0.84 and a beta of 0.58. The stock’s 50-day moving average price is $12.47 and its 200 day moving average price is $8.61.

Hedge Funds Weigh In On Energous

Institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC increased its position in shares of Energous by 85.4% during the fourth quarter. Geode Capital Management LLC now owns 18,713 shares of the industrial products company’s stock worth $75,000 after acquiring an additional 8,619 shares during the period. Flagship Harbor Advisors LLC increased its position in shares of Energous by 82.2% during the fourth quarter. Flagship Harbor Advisors LLC now owns 20,503 shares of the industrial products company’s stock worth $82,000 after acquiring an additional 9,250 shares during the period. Finally, Armistice Capital LLC purchased a new position in shares of Energous during the third quarter worth approximately $1,202,000. 4.35% of the stock is owned by hedge funds and other institutional investors.

About Energous

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.