Energous Corporation (WATT) Short Interest Update
Energous Corporation (NASDAQ:WATT) was the target of a large growth in short interest in the month of December. As of December 29th, there was short interest totalling 5,695,748 shares, a growth of 22.8% from the December 15th total of 4,639,445 shares. Based on an average daily trading volume, of 13,057,311 shares, the days-to-cover ratio is presently 0.4 days. Currently, 36.2% of the company’s stock are short sold.
In other news, Director John Gaulding sold 25,000 shares of Energous stock in a transaction dated Friday, December 29th. The stock was sold at an average price of $29.66, for a total value of $741,500.00. Following the completion of the transaction, the director now owns 73,312 shares in the company, valued at approximately $2,174,433.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Stephen R. Rizzone sold 75,000 shares of Energous stock in a transaction dated Friday, December 29th. The shares were sold at an average price of $26.04, for a total value of $1,953,000.00. Following the completion of the transaction, the chief executive officer now owns 253,609 shares of the company’s stock, valued at approximately $6,603,978.36. The disclosure for this sale can be found here. Insiders sold a total of 282,562 shares of company stock valued at $7,128,895 in the last quarter. Company insiders own 6.30% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Energous by 12.0% during the second quarter. Vanguard Group Inc. now owns 708,654 shares of the industrial products company’s stock worth $11,523,000 after purchasing an additional 75,862 shares during the last quarter. Robecosam AG purchased a new stake in Energous during the second quarter worth approximately $1,645,000. State Street Corp lifted its stake in Energous by 11.4% during the second quarter. State Street Corp now owns 258,523 shares of the industrial products company’s stock worth $4,203,000 after purchasing an additional 26,538 shares during the last quarter. Alliancebernstein L.P. purchased a new stake in Energous during the second quarter worth approximately $296,000. Finally, Northern Trust Corp lifted its stake in Energous by 27.8% during the second quarter. Northern Trust Corp now owns 215,155 shares of the industrial products company’s stock worth $3,498,000 after purchasing an additional 46,799 shares during the last quarter. Hedge funds and other institutional investors own 38.97% of the company’s stock.
Several brokerages have recently issued reports on WATT. Zacks Investment Research upgraded Energous from a “sell” rating to a “hold” rating in a research note on Saturday. ValuEngine upgraded Energous from a “strong sell” rating to a “sell” rating in a research note on Tuesday, November 14th. Roth Capital set a $45.80 price objective on Energous and gave the company a “buy” rating in a research note on Thursday, December 28th. Finally, Ladenburg Thalmann Financial Services lifted their price objective on Energous from $20.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $30.93.
Shares of Energous (WATT) opened at $18.38 on Wednesday. The firm has a market capitalization of $408.29, a P/E ratio of -7.18 and a beta of 1.93. Energous has a 52 week low of $6.91 and a 52 week high of $33.50.
Energous (NASDAQ:WATT) last posted its earnings results on Wednesday, November 8th. The industrial products company reported ($0.58) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.03). The business had revenue of $0.25 million for the quarter, compared to analysts’ expectations of $1.20 million. Energous had a negative return on equity of 263.95% and a negative net margin of 4,203.27%. analysts forecast that Energous will post -2.18 earnings per share for the current fiscal year.
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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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