Energous (NASDAQ:WATT) Share Price Crosses Above 50-Day Moving Average – Here’s What Happened

Energous Corporation (NASDAQ:WATT)’s stock price crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $24.86 and traded as high as $25.05. Energous shares last traded at $23.71, with a volume of 238,076 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts have recently commented on WATT shares. Zacks Research raised Energous to a “hold” rating in a research note on Friday, March 27th. Weiss Ratings downgraded Energous from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Reduce”.

Energous Stock Performance

The company’s 50-day moving average price is $24.86 and its 200 day moving average price is $14.30. The stock has a market capitalization of $130.41 million, a P/E ratio of -5.78 and a beta of 1.53.

Insider Transactions at Energous

In other Energous news, CEO Mallorie Sara Burak purchased 1,867 shares of the firm’s stock in a transaction on Wednesday, May 27th. The shares were acquired at an average cost of $26.47 per share, with a total value of $49,419.49. Following the completion of the acquisition, the chief executive officer directly owned 26,999 shares in the company, valued at $714,663.53. The trade was a 7.43% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.16% of the company’s stock.

Institutional Trading of Energous

Several institutional investors have recently made changes to their positions in WATT. AIGH Capital Management LLC purchased a new stake in shares of Energous during the first quarter worth about $3,373,000. Armistice Capital LLC bought a new position in Energous in the 3rd quarter worth approximately $1,202,000. GatePass Capital LLC bought a new position in Energous in the 1st quarter worth approximately $1,820,000. NewEdge Advisors LLC grew its holdings in Energous by 8,628.4% during the 1st quarter. NewEdge Advisors LLC now owns 31,946 shares of the industrial products company’s stock valued at $501,000 after buying an additional 31,580 shares in the last quarter. Finally, 3Chopt Investment Partners LLC purchased a new stake in Energous during the 1st quarter valued at approximately $282,000. Hedge funds and other institutional investors own 4.35% of the company’s stock.

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.