Analysts Anticipate Energous Corporation (WATT) Will Announce Earnings of -$0.57 Per Share
Wall Street analysts expect Energous Corporation (NASDAQ:WATT) to post earnings per share of ($0.57) for the current quarter, according to Zacks. Two analysts have issued estimates for Energous Corporation’s earnings, with the highest EPS estimate coming in at ($0.52) and the lowest estimate coming in at ($0.61). Energous Corporation also posted earnings of ($0.57) per share in the same quarter last year. The firm is expected to announce its next earnings report on Monday, November 6th.
According to Zacks, analysts expect that Energous Corporation will report full-year earnings of ($2.06) per share for the current financial year, with EPS estimates ranging from ($2.45) to ($1.57). For the next financial year, analysts expect that the company will post earnings of $0.49 per share, with EPS estimates ranging from $0.18 to $0.80. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow Energous Corporation.
Energous Corporation (NASDAQ:WATT) last announced its quarterly earnings results on Tuesday, August 8th. The industrial products company reported ($0.63) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.63). The firm had revenue of $0.30 million for the quarter, compared to the consensus estimate of $0.43 million. Energous Corporation had a negative net margin of 2,495.17% and a negative return on equity of 237.18%.
Several equities research analysts have commented on WATT shares. BidaskClub lowered shares of Energous Corporation from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 1st. Roth Capital set a $23.00 price target on Energous Corporation and gave the stock a “buy” rating in a research report on Monday, August 7th. Zacks Investment Research upgraded Energous Corporation from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research note on Friday, August 11th. Finally, ValuEngine lowered Energous Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. Energous Corporation has an average rating of “Hold” and an average target price of $17.75.
Shares of Energous Corporation (NASDAQ:WATT) traded up 1.89% during mid-day trading on Tuesday, hitting $12.97. 387,863 shares of the stock were exchanged. The stock has a 50-day moving average price of $11.24 and a 200 day moving average price of $14.03. Energous Corporation has a 52-week low of $8.91 and a 52-week high of $20.55. The firm’s market cap is $284.03 million.
In related news, VP Cesar Johnston sold 15,000 shares of the business’s stock in a transaction on Tuesday, September 26th. The shares were sold at an average price of $12.55, for a total value of $188,250.00. Following the completion of the transaction, the vice president now directly owns 88,991 shares in the company, valued at approximately $1,116,837.05. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Neeraj Sahejpal sold 3,705 shares of the stock in a transaction on Monday, August 21st. The stock was sold at an average price of $9.31, for a total transaction of $34,493.55. Following the sale, the vice president now directly owns 101,115 shares in the company, valued at $941,380.65. The disclosure for this sale can be found here. Insiders have sold a total of 69,624 shares of company stock worth $871,142 in the last ninety days. Corporate insiders own 6.20% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in WATT. American International Group Inc. increased its holdings in Energous Corporation by 7.1% in the first quarter. American International Group Inc. now owns 9,130 shares of the industrial products company’s stock valued at $142,000 after buying an additional 607 shares in the last quarter. Quantbot Technologies LP raised its position in shares of Energous Corporation by 516.9% in the first quarter. Quantbot Technologies LP now owns 9,512 shares of the industrial products company’s stock worth $148,000 after acquiring an additional 7,970 shares during the period. Nationwide Fund Advisors raised its position in shares of Energous Corporation by 26.0% in the second quarter. Nationwide Fund Advisors now owns 10,741 shares of the industrial products company’s stock worth $175,000 after acquiring an additional 2,216 shares during the period. Oppenheimer & Co. Inc. raised its position in shares of Energous Corporation by 16.9% in the first quarter. Oppenheimer & Co. Inc. now owns 11,797 shares of the industrial products company’s stock worth $184,000 after acquiring an additional 1,702 shares during the period. Finally, Frontier Investment Mgmt Co. acquired a new position in shares of Energous Corporation in the second quarter worth about $236,000. Institutional investors own 36.84% of the company’s stock.
About Energous Corporation
Energous Corporation is engaged in developing a technology called WattUp that consists of semiconductor chipsets, software, hardware designs and antennas that can enable radio frequency (RF)-based wire-free charging for electronic devices, providing power at a distance and enabling charging with mobility under software control.
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