Energous Corporation (WATT) Short Interest Update

Energous Corporation (NASDAQ:WATT) was the recipient of a large growth in short interest during the month of December. As of December 29th, there was short interest totalling 5,695,748 shares, a growth of 22.8% from the December 15th total of 4,639,445 shares. Based on an average daily volume of 13,057,311 shares, the short-interest ratio is currently 0.4 days. Approximately 36.2% of the company’s shares are short sold.

Several analysts have commented on WATT shares. ValuEngine upgraded shares of Energous from a “strong sell” rating to a “sell” rating in a research report on Tuesday, November 14th. Zacks Investment Research cut shares of Energous from a “hold” rating to a “sell” rating in a research report on Tuesday, November 14th. Roth Capital set a $45.80 target price on shares of Energous and gave the company a “buy” rating in a research report on Thursday, December 28th. Finally, Ladenburg Thalmann Financial Services upped their target price on shares of Energous from $20.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, January 3rd. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $30.93.

In other Energous news, VP Neeraj Sahejpal sold 2,846 shares of the company’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $9.35, for a total transaction of $26,610.10. Following the completion of the sale, the vice president now owns 89,123 shares in the company, valued at approximately $833,300.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Stephen R. Rizzone sold 75,000 shares of the company’s stock in a transaction on Friday, December 29th. The shares were sold at an average price of $26.04, for a total transaction of $1,953,000.00. Following the sale, the chief executive officer now owns 253,609 shares of the company’s stock, valued at approximately $6,603,978.36. The disclosure for this sale can be found here. Insiders sold a total of 282,562 shares of company stock valued at $7,128,895 in the last 90 days. 6.30% of the stock is currently owned by corporate insiders.

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Energous by 12.0% in the 2nd quarter. Vanguard Group Inc. now owns 708,654 shares of the industrial products company’s stock valued at $11,523,000 after buying an additional 75,862 shares during the period. Robecosam AG acquired a new position in shares of Energous in the 2nd quarter valued at $1,645,000. State Street Corp grew its holdings in shares of Energous by 11.4% in the 2nd quarter. State Street Corp now owns 258,523 shares of the industrial products company’s stock valued at $4,203,000 after buying an additional 26,538 shares during the period. Alliancebernstein L.P. acquired a new position in shares of Energous in the 2nd quarter valued at $296,000. Finally, Northern Trust Corp grew its holdings in shares of Energous by 27.8% in the 2nd quarter. Northern Trust Corp now owns 215,155 shares of the industrial products company’s stock valued at $3,498,000 after buying an additional 46,799 shares during the period. 38.97% of the stock is owned by institutional investors.

Shares of Energous (WATT) opened at $23.02 on Friday. The company has a market cap of $511.36, a price-to-earnings ratio of -8.99 and a beta of 1.93. Energous has a 1 year low of $6.91 and a 1 year high of $33.50.

Energous (NASDAQ:WATT) last issued its earnings results on Wednesday, November 8th. The industrial products company reported ($0.58) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.03). Energous had a negative net margin of 4,203.27% and a negative return on equity of 263.95%. The business had revenue of $0.25 million for the quarter, compared to the consensus estimate of $1.20 million. equities analysts expect that Energous will post -2.18 earnings per share for the current year.

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About Energous

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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