AIGH Capital Management LLC Takes $3.37 Million Position in Energous Corporation $WATT

Key Points

• AIGH Capital Management disclosed a new position in Energous, buying 215,000 shares valued at about $3.37 million. The stake represented 3.91% of the company at the end of the latest reporting period.
• Other institutional investors also adjusted their holdings, with firms like Armistice Capital, Flagship Harbor Advisors, Geode Capital Management, and 3Chopt Investment Partners all adding to or initiating positions. Overall, hedge funds and other institutional investors own 4.35% of Energous.
• CEO Mallorie Sara Burak bought 1,867 shares in late May, increasing her stake by 7.43%. Analyst sentiment remains cautious, with an average rating of "Reduce" and only one Hold and one Sell rating reported.

AIGH Capital Management LLC bought a new stake in Energous Corporation (NASDAQ:WATT - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund bought 215,000 shares of the industrial products company's stock, valued at approximately $3,373,000. AIGH Capital Management LLC owned 3.91% of Energous at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in WATT. Armistice Capital LLC acquired a new stake in Energous during the third quarter valued at $1,202,000. Flagship Harbor Advisors LLC boosted its stake in shares of Energous by 82.2% during 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. Geode Capital Management LLC boosted its stake in shares of Energous by 85.4% during the 4th 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 in the last quarter. Finally, 3Chopt Investment Partners LLC acquired a new stake in shares of Energous during the 1st quarter valued at about $282,000. 4.35% of the stock is owned by hedge funds and other institutional investors.

Energous Stock Performance

NASDAQ:WATT opened at $17.96 on Thursday. The stock has a market capitalization of $98.78 million, a PE ratio of -4.38 and a beta of 1.54. Energous Corporation has a fifty-two week low of $3.62 and a fifty-two week high of $36.98. The company has a fifty day moving average of $25.87 and a two-hundred day moving average of $16.64.

Insiders Place Their Bets

In other news, CEO Mallorie Sara Burak acquired 1,867 shares of the stock in a transaction that occurred on Wednesday, May 27th. The shares were bought at an average cost of $26.47 per share, for a total transaction of $49,419.49. Following the acquisition, the chief executive officer owned 26,999 shares in the company, valued at approximately $714,663.53. This represents a 7.43% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.16% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Zacks Research upgraded Energous to a "hold" rating in a research note on Friday, March 27th. Weiss Ratings lowered Energous from a "sell (d-)" rating to a "sell (e+)" rating in a report on Wednesday, April 29th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Energous currently has an average rating of "Reduce".

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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