Energous (NASDAQ:WATT) Shares Cross Below 200-Day Moving Average – Time to Sell?

Energous Corporation (NASDAQ:WATT) shares passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $7.79 and traded as low as $5.00. Energous shares last traded at $5.50, with a volume of 415,456 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Energous in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has an average rating of “Sell”.

Energous Price Performance

The firm’s 50 day moving average is $5.41 and its 200 day moving average is $7.78. The firm has a market cap of $11.96 million, a P/E ratio of -0.30 and a beta of 0.74.

Institutional Trading of Energous

An institutional investor recently bought a new position in Energous stock. Armistice Capital LLC acquired a new stake in shares of Energous Corporation (NASDAQ:WATT) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 155,636 shares of the industrial products company’s stock, valued at approximately $1,202,000. Armistice Capital LLC owned 8.53% of Energous as of its most recent SEC filing. 4.35% of the stock is currently owned by institutional investors and hedge funds.

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.