Wells Fargo & Company MN raised its position in shares of Energous Corporation (NASDAQ:WATT) by 75.6% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 30,217 shares of the industrial products company’s stock after buying an additional 13,013 shares during the period. Wells Fargo & Company MN owned 0.15% of Energous Corporation worth $472,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Ladenburg Thalmann Financial Services Inc. raised its position in shares of Energous Corporation by 182.4% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,128 shares of the industrial products company’s stock worth $137,000 after buying an additional 5,250 shares in the last quarter. Creative Planning raised its position in Energous Corporation by 7.2% in the first quarter. Creative Planning now owns 8,990 shares of the industrial products company’s stock worth $140,000 after buying an additional 600 shares during the period. AQR Capital Management LLC raised its stake in Energous Corporation by 25.9% in the fourth quarter. AQR Capital Management LLC now owns 22,127 shares of the industrial products company’s stock valued at $373,000 after buying an additional 4,552 shares during the last quarter. Teachers Advisors LLC raised its stake in Energous Corporation by 6.9% in the fourth quarter. Teachers Advisors LLC now owns 25,778 shares of the industrial products company’s stock valued at $434,000 after buying an additional 1,665 shares during the last quarter. Finally, Russell Investments Group Ltd. purchased a new stake in Energous Corporation during the fourth quarter valued at approximately $666,000. 40.17% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Energous Corporation (NASDAQ:WATT) traded up 3.65% during midday trading on Tuesday, hitting $14.50. 402,371 shares of the stock were exchanged. Energous Corporation has a 12-month low of $11.80 and a 12-month high of $20.55. The firm has a 50-day moving average price of $15.76 and a 200-day moving average price of $15.31. The company’s market cap is $298.92 million.
Energous Corporation (NASDAQ:WATT) last posted its quarterly earnings results on Wednesday, May 10th. The industrial products company reported ($0.61) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.56) by $0.05. Energous Corporation had a negative return on equity of 224.53% and a negative net margin of 2,511.58%. The business had revenue of $0.58 million during the quarter, compared to the consensus estimate of $0.50 million. On average, equities analysts predict that Energous Corporation will post ($2.26) EPS for the current year.
Several research firms recently weighed in on WATT. ValuEngine upgraded shares of Energous Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Zacks Investment Research upgraded shares of Energous Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, May 16th. Ladenburg Thalmann Financial Services reissued a “buy” rating and issued a $18.00 price target on shares of Energous Corporation in a research report on Thursday, May 11th. BidaskClub cut shares of Energous Corporation from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Finally, Roth Capital set a $23.00 price target on shares of Energous Corporation and gave the company a “buy” rating in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $19.00.
In other news, VP Cesar Johnston sold 9,443 shares of the firm’s stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $16.11, for a total value of $152,126.73. Following the transaction, the vice president now directly owns 123,133 shares in the company, valued at approximately $1,983,672.63. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Neeraj Sahejpal sold 1,615 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $15.85, for a total transaction of $25,597.75. Following the completion of the transaction, the vice president now owns 104,820 shares in the company, valued at $1,661,397. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,593 shares of company stock worth $395,217. Insiders own 6.20% of the company’s stock.
About Energous Corporation
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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