Cesar Johnston Sells 22,306 Shares of Energous Corp (NASDAQ:WATT) Stock

Energous Corp (NASDAQ:WATT) COO Cesar Johnston sold 22,306 shares of Energous stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $2.01, for a total value of $44,835.06. Following the completion of the sale, the chief operating officer now directly owns 271,227 shares of the company’s stock, valued at approximately $545,166.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Cesar Johnston also recently made the following trade(s):

  • On Friday, November 15th, Cesar Johnston sold 6,375 shares of Energous stock. The stock was sold at an average price of $2.10, for a total value of $13,387.50.
  • On Friday, September 27th, Cesar Johnston sold 4,063 shares of Energous stock. The stock was sold at an average price of $3.32, for a total value of $13,489.16.

NASDAQ:WATT traded up $0.09 during mid-day trading on Friday, hitting $2.05. 4,201 shares of the company traded hands, compared to its average volume of 599,553. The stock’s fifty day moving average price is $2.52 and its 200-day moving average price is $3.59. Energous Corp has a one year low of $1.88 and a one year high of $11.54. The company has a quick ratio of 6.54, a current ratio of 6.54 and a debt-to-equity ratio of 0.08. The firm has a market cap of $62.69 million, a price-to-earnings ratio of -1.03 and a beta of 1.67.

Energous (NASDAQ:WATT) last released its quarterly earnings results on Thursday, November 7th. The industrial products company reported ($0.27) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.30) by $0.03. Energous had a negative return on equity of 164.30% and a negative net margin of 19,557.08%. The business had revenue of $0.04 million during the quarter, compared to analyst estimates of $0.40 million. Equities analysts predict that Energous Corp will post -1.25 EPS for the current year.

A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its holdings in Energous by 15.9% during the second quarter. BlackRock Inc. now owns 1,678,355 shares of the industrial products company’s stock valued at $7,335,000 after purchasing an additional 229,776 shares during the period. Vanguard Group Inc. lifted its position in shares of Energous by 12.2% in the second quarter. Vanguard Group Inc. now owns 1,196,275 shares of the industrial products company’s stock valued at $5,227,000 after acquiring an additional 130,228 shares in the last quarter. Doheny Asset Management CA lifted its position in shares of Energous by 3.3% in the third quarter. Doheny Asset Management CA now owns 758,074 shares of the industrial products company’s stock valued at $2,513,000 after acquiring an additional 24,200 shares in the last quarter. Raging Capital Management LLC lifted its position in shares of Energous by 7.1% in the second quarter. Raging Capital Management LLC now owns 431,660 shares of the industrial products company’s stock valued at $1,886,000 after acquiring an additional 28,651 shares in the last quarter. Finally, State Street Corp lifted its position in shares of Energous by 1.5% in the third quarter. State Street Corp now owns 419,998 shares of the industrial products company’s stock valued at $1,392,000 after acquiring an additional 6,059 shares in the last quarter. 24.09% of the stock is owned by institutional investors and hedge funds.

Several brokerages recently commented on WATT. Roth Capital cut their price objective on Energous from $8.20 to $7.00 and set a “buy” rating for the company in a report on Friday, November 8th. Zacks Investment Research raised Energous from a “hold” rating to a “buy” rating and set a $3.25 price objective for the company in a report on Saturday, November 9th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Energous currently has a consensus rating of “Buy” and an average price target of $5.58.

Energous Company Profile

Energous Corporation develops wire-free charging solutions. The company develops WattUp wireless power technology that consists of semiconductor chipsets, software controls, hardware designs, and antennas that enables radio frequency based wire-free charging for electronic devices. It has a collaboration with vivo Global to explore integrating WattUp into smartphone designs that charge wirelessly over-the-air.

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