Energous (NASDAQ:WATT) Shares Cross Above Fifty Day Moving Average – Time to Sell?

Shares of Energous Corporation (NASDAQ:WATT) crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $23.79 and traded as high as $28.98. Energous shares last traded at $28.03, with a volume of 338,653 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Zacks Research raised shares of Energous to a “hold” rating in a report on Friday, March 27th. Weiss Ratings cut shares of Energous from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, April 29th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce”.

Energous Stock Down 9.1%

The stock’s 50 day moving average price is $23.95 and its 200-day moving average price is $13.68. The stock has a market capitalization of $140.20 million, a PE ratio of -6.22 and a beta of 1.53.

Insider Activity

In related news, CEO Mallorie Sara Burak bought 1,867 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The stock was purchased at an average price of $26.47 per share, for a total transaction of $49,419.49. Following the completion of the transaction, the chief executive officer owned 26,999 shares in the company, valued at $714,663.53. The trade was a 7.43% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.16% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Energous

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC boosted its position in shares of Energous by 85.4% during the fourth quarter. Geode Capital Management LLC now owns 18,713 shares of the industrial products company’s stock worth $75,000 after acquiring an additional 8,619 shares during the last quarter. Flagship Harbor Advisors LLC boosted its position in shares of Energous by 82.2% during the fourth quarter. Flagship Harbor Advisors LLC now owns 20,503 shares of the industrial products company’s stock worth $82,000 after acquiring an additional 9,250 shares during the last quarter. Quantinno Capital Management LP bought a new position in shares of Energous during the first quarter worth $220,000. 3Chopt Investment Partners LLC bought a new position in Energous during the first quarter valued at $282,000. Finally, NewEdge Advisors LLC lifted 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 during the last quarter. Institutional investors own 4.35% of the company’s stock.

Energous Company Profile

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.