Energous Corporation (NASDAQ:WATT) Sees Large Increase in Short Interest

Energous Corporation (NASDAQ:WATT) was the recipient of a large increase in short interest during the month of January. As of January 15th, there was short interest totaling 269,026 shares, an increase of 90.8% from the December 31st total of 140,973 shares. Based on an average daily volume of 700,012 shares, the days-to-cover ratio is presently 0.4 days. Approximately 12.4% of the shares of the company are short sold. Approximately 12.4% of the shares of the company are short sold. Based on an average daily volume of 700,012 shares, the days-to-cover ratio is presently 0.4 days.

Energous Price Performance

Shares of NASDAQ WATT remained flat at $7.90 during mid-day trading on Friday. 130,751 shares of the stock were exchanged, compared to its average volume of 482,428. The stock has a 50 day moving average of $5.43 and a 200 day moving average of $7.57. Energous has a 52 week low of $3.62 and a 52 week high of $18.36. The stock has a market cap of $17.22 million, a PE ratio of -0.44 and a beta of 0.74.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Energous in a report on Wednesday, January 21st. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell”.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Energous stock. Flagship Harbor Advisors LLC increased its holdings in Energous Corporation (NASDAQ:WATT) by 82.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,503 shares of the industrial products company’s stock after purchasing an additional 9,250 shares during the period. Flagship Harbor Advisors LLC owned approximately 0.94% of Energous worth $82,000 as of its most recent SEC filing. Institutional investors own 4.35% of the company’s stock.

Energous Company Profile

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.