Energous (NASDAQ:WATT) Stock Gets Downgrade from Wall Street Zen

Energous (NASDAQ:WATT) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings downgraded Energous from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, October 6th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Reduce”.

Energous Price Performance

Shares of NASDAQ WATT opened at $8.57 on Friday. The company has a 50 day simple moving average of $12.25 and a 200-day simple moving average of $18.76. The company has a market capitalization of $47.39 million, a P/E ratio of -3.88 and a beta of 1.51. Energous has a 1 year low of $3.62 and a 1 year high of $36.98.

Institutional Trading of Energous

Several institutional investors have recently added to or reduced their stakes in the stock. AIGH Capital Management LLC purchased a new stake in shares of Energous in the 1st quarter valued at $3,373,000. GatePass Capital LLC acquired a new position in Energous during the 1st quarter worth about $1,820,000. NewEdge Advisors LLC lifted its stake in Energous by 20.2% during the 2nd quarter. NewEdge Advisors LLC now owns 38,397 shares of the industrial products company’s stock worth $923,000 after acquiring an additional 6,451 shares in the last quarter. Headlands Technologies LLC purchased a new position in Energous during the 2nd quarter valued at about $473,000. Finally, 3Chopt Investment Partners LLC purchased a new position in Energous during the 1st quarter valued at about $282,000. Institutional investors and hedge funds own 4.35% of the company’s stock.

Energous Company Profile

Energous Corporation (NASDAQ: WATT) develops wireless power-at-a-distance technology and related systems. Its WattUp platform uses radio-frequency technology to transmit power wirelessly to compatible devices, with the goal of reducing reliance on conventional charging cables, docks and contact-based charging pads.

The company’s product portfolio includes wireless power transmitters, receivers and reference designs intended for integration into electronic devices and connected products.