Energous (NASDAQ:WATT) has been assigned a $46.00 price objective by equities researchers at Roth Capital in a report issued on Monday, February 19th. The firm currently has a “buy” rating on the industrial products company’s stock. Roth Capital’s target price points to a potential upside of 120.52% from the company’s previous close.
A number of other equities research analysts have also recently commented on the company. National Securities reissued a “buy” rating on shares of Energous in a report on Friday, February 16th. ValuEngine upgraded Energous from a “sell” rating to a “hold” rating in a research report on Friday, February 2nd. Zacks Investment Research upgraded Energous from a “sell” rating to a “hold” rating in a research report on Saturday, January 13th. Finally, Ladenburg Thalmann Financial Services boosted their target price on Energous from $20.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, January 3rd. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. Energous presently has an average rating of “Hold” and an average price target of $31.00.
Shares of Energous (WATT) traded down $0.62 during trading hours on Monday, hitting $20.86. The stock had a trading volume of 761,469 shares, compared to its average volume of 1,740,000. Energous has a 12-month low of $6.91 and a 12-month high of $33.50. The company has a market cap of $463.38, a price-to-earnings ratio of -8.99 and a beta of 1.40.
In related news, insider Brian J. Sereda sold 16,790 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $22.19, for a total transaction of $372,570.10. Following the completion of the transaction, the insider now owns 68,570 shares in the company, valued at approximately $1,521,568.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Neeraj Sahejpal sold 2,986 shares of the stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $33.19, for a total transaction of $99,105.34. Following the completion of the sale, the vice president now owns 83,867 shares of the company’s stock, valued at approximately $2,783,545.73. The disclosure for this sale can be found here. Over the last three months, insiders sold 468,633 shares of company stock worth $11,144,482. 6.30% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Newport Wealth Strategies Inc. acquired a new stake in shares of Energous during the 4th quarter worth approximately $261,000. Harvest Capital Strategies LLC purchased a new position in shares of Energous during the 4th quarter worth approximately $3,112,000. Millennium Management LLC boosted its position in shares of Energous by 534.3% during the 4th quarter. Millennium Management LLC now owns 110,684 shares of the industrial products company’s stock worth $2,153,000 after purchasing an additional 93,233 shares during the period. Two Sigma Securities LLC purchased a new position in Energous in the 4th quarter valued at approximately $204,000. Finally, Deutsche Bank AG boosted its position in Energous by 11.6% in the 4th quarter. Deutsche Bank AG now owns 57,372 shares of the industrial products company’s stock valued at $1,114,000 after buying an additional 5,966 shares during the period. Institutional investors and hedge funds own 36.56% of the company’s stock.
Energous Corporation is engaged in developing a technology called WattUp that consists of semiconductor chipsets, software, hardware designs and antennas that can enable radio frequency (RF)-based wire-free charging for electronic devices, providing power at a distance and enabling charging with mobility under software control.
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