Energous (NASDAQ:WATT) Shares Pass Above 50 Day Moving Average – Should You Sell?

Energous Corporation (NASDAQ:WATT) crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $5.72 and traded as high as $9.30. Energous shares last traded at $9.05, with a volume of 160,983 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Energous in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Energous Stock Performance

The firm has a market capitalization of $19.73 million, a PE ratio of -0.50 and a beta of 0.95. The stock’s 50-day simple moving average is $5.72 and its 200-day simple moving average is $7.38.

Institutional Investors Weigh In On Energous

A hedge fund recently bought a new stake in Energous stock. Flagship Harbor Advisors LLC purchased a new position in Energous Corporation (NASDAQ:WATT) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 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 currently owned by institutional investors.

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.