Energous (NASDAQ:WATT) Stock Passes Below 200 Day Moving Average – Here’s What Happened

Energous Corporation (NASDAQ:WATT)’s stock price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $8.81 and traded as low as $6.92. Energous shares last traded at $7.21, with a volume of 50,060 shares traded.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Energous in a research note on Wednesday, October 8th. Wall Street Zen raised shares of Energous to a “hold” rating in a report on Friday, July 18th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Energous Trading Down 2.6%

The firm’s 50 day moving average price is $7.94 and its 200-day moving average price is $8.81. The company has a market cap of $13.16 million, a P/E ratio of -0.23 and a beta of 0.55.

Insider Buying and Selling

In other Energous news, CEO Mallorie Sara Burak bought 6,400 shares of the company’s stock in a transaction on Thursday, August 21st. The stock was bought at an average price of $7.88 per share, for a total transaction of $50,432.00. Following the transaction, the chief executive officer owned 10,132 shares of the company’s stock, valued at approximately $79,840.16. The trade was a 171.49% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.08% of the company’s stock.

Institutional Investors Weigh In On Energous

An institutional investor recently bought a new position in Energous stock. Flagship Harbor Advisors LLC bought a new stake in Energous Corporation (NASDAQ:WATT) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,253 shares of the industrial products company’s stock, valued at approximately $87,000. Flagship Harbor Advisors LLC owned 0.62% of Energous at the end of the most recent quarter. 4.35% of the stock is owned by institutional investors and hedge funds.

Energous Company Profile

Energous Corporation provides wireless charging system solutions in the United States. The company develops WattUp wireless power networks technology that consists of semiconductor chipsets; software controls; hardware designs; and antennas that enables radio frequency-based charging for Internet of Things devices.