Energous (NASDAQ:WATT) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of Energous (NASDAQ:WATT) from a hold rating to a sell rating in a research report sent to investors on Saturday morning.

Separately, Weiss Ratings raised Energous from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Energous has an average rating of “Reduce”.

Energous Stock Performance

NASDAQ WATT opened at $14.75 on Friday. The firm has a market capitalization of $81.12 million, a PE ratio of -3.60 and a beta of 1.58. The company has a 50-day simple moving average of $19.44 and a 200-day simple moving average of $18.83. Energous has a one year low of $3.62 and a one year high of $36.98.

Insider Buying and Selling

In other news, CEO Mallorie Sara Burak acquired 1,867 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The stock was purchased at an average price of $26.47 per share, with a total value of $49,419.49. Following the purchase, the chief executive officer owned 26,999 shares of the company’s stock, valued at approximately $714,663.53. This trade represents a 7.43% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.16% of the company’s stock.

Institutional Trading of Energous

Large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its position in shares of Energous by 85.4% in 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 during the period. Bank of New York Mellon Corp purchased a new stake in shares of Energous in the second quarter worth approximately $301,000. Quantinno Capital Management LP acquired a new stake in shares of Energous during the first quarter worth approximately $220,000. 3Chopt Investment Partners LLC purchased a new position in Energous during the first quarter valued at approximately $282,000. Finally, NewEdge Advisors LLC grew its position in Energous by 8,628.4% during the first quarter. NewEdge Advisors LLC now owns 31,946 shares of the industrial products company’s stock valued at $501,000 after purchasing an additional 31,580 shares in the last quarter. 4.35% of the stock is owned by institutional investors and hedge funds.

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.