Shares of Energous Corporation (NASDAQ:WATT) hit a new 52-week low on Thursday . The stock traded as low as $8.66 and last traded at $0.00, with a volume of shares.

Several brokerages have weighed in on WATT. ValuEngine cut shares of Energous Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Zacks Investment Research cut shares of Energous Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, August 19th. BidaskClub cut shares of Energous Corporation from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 1st. Finally, Roth Capital set a $23.00 price objective on shares of Energous Corporation and gave the stock a “buy” rating in a research note on Monday, August 7th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $17.75.

Energous Corporation (NASDAQ:WATT) last issued its earnings results on Tuesday, August 8th. The industrial products company reported ($0.63) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.63). The firm had revenue of $0.30 million during the quarter, compared to analyst estimates of $0.43 million. Energous Corporation had a negative net margin of 2,495.17% and a negative return on equity of 237.18%.

In other Energous Corporation news, insider Michael Aaron Leabman sold 10,515 shares of the stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $9.31, for a total transaction of $97,894.65. Following the completion of the transaction, the insider now owns 181,889 shares in the company, valued at $1,693,386.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Cesar Johnston sold 9,699 shares of the stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $9.40, for a total transaction of $91,170.60. Following the transaction, the vice president now owns 106,025 shares of the company’s stock, valued at approximately $996,635. The disclosure for this sale can be found here. Insiders have sold 48,786 shares of company stock valued at $535,442 in the last quarter. Company insiders own 6.20% of the company’s stock.

Large investors have recently modified their holdings of the business. American International Group Inc. boosted its position in Energous Corporation by 7.1% during the first quarter. American International Group Inc. now owns 9,130 shares of the industrial products company’s stock worth $142,000 after purchasing an additional 607 shares during the period. Nationwide Fund Advisors boosted its position in Energous Corporation by 26.0% during the second quarter. Nationwide Fund Advisors now owns 10,741 shares of the industrial products company’s stock worth $175,000 after purchasing an additional 2,216 shares during the period. Oppenheimer & Co. Inc. boosted its position in Energous Corporation by 16.9% during the first quarter. Oppenheimer & Co. Inc. now owns 11,797 shares of the industrial products company’s stock worth $184,000 after purchasing an additional 1,702 shares during the period. Frontier Investment Mgmt Co. bought a new position in Energous Corporation during the second quarter worth about $236,000. Finally, The Manufacturers Life Insurance Company boosted its position in Energous Corporation by 32.5% during the second quarter. The Manufacturers Life Insurance Company now owns 15,728 shares of the industrial products company’s stock worth $255,000 after purchasing an additional 3,855 shares during the period. Hedge funds and other institutional investors own 37.85% of the company’s stock.

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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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