Mallorie Sara Burak Purchases 1,867 Shares of Energous (NASDAQ:WATT) Stock

Energous Corporation (NASDAQ:WATT) CEO Mallorie Sara Burak bought 1,867 shares of the company’s stock in a transaction on Wednesday, May 27th. The shares were acquired at an average cost of $26.47 per share, for a total transaction of $49,419.49. Following the completion of the acquisition, the chief executive officer directly owned 26,999 shares of the company’s stock, valued at $714,663.53. This trade represents a 7.43% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Energous Stock Performance

Shares of NASDAQ:WATT opened at $28.00 on Friday. The stock has a market capitalization of $154.03 million, a price-to-earnings ratio of -6.83 and a beta of 1.61. Energous Corporation has a 1-year low of $3.62 and a 1-year high of $36.98. The company’s fifty day moving average is $22.83 and its two-hundred day moving average is $12.93.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on WATT. Weiss Ratings cut shares of Energous from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, April 29th. Zacks Research raised shares of Energous to a “hold” rating in a report on Friday, March 27th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Energous presently has a consensus rating of “Reduce”.

Hedge Funds Weigh In On Energous

Several institutional investors have recently modified their holdings of the company. Geode Capital Management LLC grew its position in shares of 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 acquiring an additional 8,619 shares during the last quarter. Flagship Harbor Advisors LLC grew its position in shares of Energous by 82.2% during the fourth quarter. Flagship Harbor Advisors LLC now owns 20,503 shares of the industrial products company’s stock worth $82,000 after acquiring an additional 9,250 shares during the last quarter. Quantinno Capital Management LP bought a new position in shares of Energous during the first quarter worth about $220,000. 3Chopt Investment Partners LLC bought a new position in shares of Energous during the first quarter worth about $282,000. Finally, GatePass Capital LLC bought a new position in shares of Energous during the first quarter worth about $1,820,000. 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.