Energous (NASDAQ:WATT) Releases Earnings Results

Energous (NASDAQ:WATT) issued its quarterly earnings results on Wednesday. The industrial products company reported ($1.28) EPS for the quarter, Zacks reports. Energous had a negative return on equity of 282.11% and a negative net margin of 1.40%.

Energous Stock Up 8.6%

Energous stock traded up $0.61 during mid-day trading on Wednesday, hitting $7.74. 81,878 shares of the company’s stock traded hands, compared to its average volume of 70,799. Energous has a one year low of $3.67 and a one year high of $81.00. The firm has a 50 day moving average price of $7.94 and a 200 day moving average price of $8.79. The company has a market cap of $14.13 million, a PE ratio of -0.24 and a beta of 0.55.

Analyst Ratings Changes

A number of research firms have commented on WATT. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Energous in a report on Wednesday, October 8th. Wall Street Zen raised Energous to a “hold” rating in a research report on Friday, July 18th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Energous presently has a consensus rating of “Sell”.

Insider Activity at Energous

In related news, CEO Mallorie Sara Burak acquired 6,400 shares of the business’s stock in a transaction that occurred on Thursday, August 21st. The shares were acquired at an average cost of $7.88 per share, for a total transaction of $50,432.00. Following the completion of the purchase, the chief executive officer directly owned 10,132 shares in the company, valued at $79,840.16. This trade represents a 171.49% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.08% of the company’s stock.

About Energous

Energous Corporation provides wireless charging system solutions in the United States. The company develops WattUp wireless power networks technology that consists of semiconductor chipsets; software controls; hardware designs; and antennas that enables radio frequency-based charging for Internet of Things devices.