Energous (NASDAQ:WATT) Cut to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Energous from “hold” to “sell,” while Weiss Ratings also maintained a sell-level assessment. MarketBeat lists the stock’s average rating as “Reduce,” based on one hold and one sell rating.
• Energous shares opened at $15.56, with an $85.58 million market capitalization, a negative price-to-earnings ratio of -3.80, and a 12-month trading range of $3.62 to $36.98.
• CEO Mallorie Sara Burak purchased 1,867 shares worth approximately $49,419, increasing her ownership by 7.43%; however, insiders collectively own just 0.16% of the company, while institutional investors hold 4.35%.

Energous (NASDAQ:WATT - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Saturday.

Separately, Weiss Ratings upgraded shares of Energous from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Energous presently has an average rating of "Reduce".

Energous Trading Up 4.4%

Shares of Energous stock opened at $15.56 on Friday. The firm has a market capitalization of $85.58 million, a PE ratio of -3.80 and a beta of 1.58. The business's 50-day moving average price is $19.66 and its 200-day moving average price is $18.68. Energous has a 12 month low of $3.62 and a 12 month high of $36.98.

Insider Activity

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

Institutional Investors Weigh In On Energous

Institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC grew its position in shares of Energous by 85.4% in the 4th quarter. Geode Capital Management LLC now owns 18,713 shares of the industrial products company's stock worth $75,000 after buying an additional 8,619 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of Energous during the second quarter valued at approximately $301,000. Quantinno Capital Management LP bought a new position in shares of Energous during the first quarter valued at approximately $220,000. 3Chopt Investment Partners LLC purchased a new stake in Energous in the first quarter worth $282,000. Finally, NewEdge Advisors LLC lifted its stake in Energous by 8,628.4% in 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. 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.

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