Energous (NASDAQ:WATT) CEO Buys $49,419.49 in Stock

Energous Corporation (NASDAQ:WATT) CEO Mallorie Sara Burak acquired 1,867 shares of the business’s stock in a transaction dated Wednesday, May 27th. The stock was acquired at an average cost of $26.47 per share, with a total value of $49,419.49. Following the completion of the transaction, the chief executive officer owned 26,999 shares of the company’s stock, valued at approximately $714,663.53. The trade was a 7.43% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Energous Trading Up 4.1%

Shares of WATT traded up $1.08 during mid-day trading on Thursday, reaching $27.45. The company’s stock had a trading volume of 149,769 shares, compared to its average volume of 458,789. Energous Corporation has a 1-year low of $3.62 and a 1-year high of $36.98. The stock has a market cap of $150.98 million, a P/E ratio of -6.70 and a beta of 1.61. The business has a 50-day simple moving average of $22.52 and a two-hundred day simple moving average of $12.83.

Analyst Upgrades and Downgrades

WATT has been the subject of several research reports. Weiss Ratings cut Energous from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, April 29th. Zacks Research raised Energous to a “hold” rating in a report on Friday, March 27th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce”.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC grew its stake in Energous by 85.4% during the fourth quarter. Geode Capital Management LLC now owns 18,713 shares of the industrial products company’s stock worth $75,000 after buying an additional 8,619 shares in the last quarter. Armistice Capital LLC bought a new stake in shares of Energous during the 3rd quarter worth approximately $1,202,000. Quantinno Capital Management LP bought a new stake in Energous during the 1st quarter worth $220,000. GatePass Capital LLC bought a new stake in Energous during the 1st quarter worth $1,820,000. Finally, AIGH Capital Management LLC bought a new stake in Energous during the 1st quarter worth $3,373,000. Institutional investors and hedge funds own 4.35% of the company’s stock.

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.