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.
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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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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