Energous (NASDAQ:WATT) Stock Passes Below Fifty Day Moving Average – Time to Sell?

Energous Corporation (NASDAQ:WATT) shares crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $5.67 and traded as low as $4.64. Energous shares last traded at $5.09, with a volume of 55,423 shares trading hands.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Energous in a report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Energous Stock Up 0.4%

The stock’s fifty day simple moving average is $5.62 and its 200-day simple moving average is $7.89. The company has a market capitalization of $11.14 million, a PE ratio of -0.28 and a beta of 0.74.

Institutional Trading of Energous

A hedge fund recently bought a new stake in Energous stock. Flagship Harbor Advisors LLC acquired a new position in shares of Energous Corporation (NASDAQ:WATT) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 11,253 shares of the industrial products company’s stock, valued at approximately $87,000. Flagship Harbor Advisors LLC owned about 0.62% of Energous at the end of the most recent reporting period. 4.35% of the stock is owned by hedge funds and other institutional investors.

About Energous

Energous Corporation develops and commercializes radio frequency (RF)–based wireless charging technology designed to deliver power over the air to compatible devices. Its WattUp platform includes near‐field and far‐field transmitters that emit targeted RF energy and receiver modules that convert that energy into electrical power. The company’s solutions aim to eliminate the need for cables and charging pads by enabling contactless power delivery to a range of products, from wearables and IoT sensors to medical devices and consumer electronics.