Energous (NASDAQ:WATT) Stock Price Crosses Below 50-Day Moving Average – Should You Sell?

Energous Corporation (NASDAQ:WATT) shares crossed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $26.17 and traded as low as $23.80. Energous shares last traded at $24.60, with a volume of 174,018 shares traded.

Analysts Set New Price Targets

WATT has been the topic of a number of analyst reports. Weiss Ratings cut shares of Energous from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, April 29th. Zacks Research upgraded shares of Energous to a “hold” rating in a report on Friday, March 27th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Energous has an average rating of “Reduce”.

Energous Price Performance

The firm has a fifty day moving average price of $26.17 and a two-hundred day moving average price of $15.33. The stock has a market capitalization of $135.30 million, a PE ratio of -6.00 and a beta of 1.53.

Insider Buying and Selling

In other Energous news, CEO Mallorie Sara Burak acquired 1,867 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were bought at an average price of $26.47 per share, with a total value of $49,419.49. Following the transaction, the chief executive officer directly owned 26,999 shares of the company’s stock, valued at $714,663.53. The trade was a 7.43% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. 0.16% of the stock is owned by company insiders.

Institutional Trading of Energous

Institutional investors and hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC lifted its holdings in Energous by 85.4% during the 4th quarter. Geode Capital Management LLC now owns 18,713 shares of the industrial products company’s stock valued at $75,000 after buying an additional 8,619 shares in the last quarter. Flagship Harbor Advisors LLC grew its stake in Energous by 82.2% in the 4th 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 in the last quarter. Quantinno Capital Management LP bought a new position in Energous in the 1st quarter worth about $220,000. 3Chopt Investment Partners LLC purchased a new position in shares of Energous during the first quarter worth approximately $282,000. Finally, NewEdge Advisors LLC increased its position in shares of Energous by 8,628.4% during the first quarter. NewEdge Advisors LLC now owns 31,946 shares of the industrial products company’s stock worth $501,000 after acquiring an additional 31,580 shares during the period. 4.35% of the stock is currently owned by 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.