HC Wainwright Begins Coverage on Energous (NASDAQ:WATT)

Research analysts at HC Wainwright started coverage on shares of Energous (NASDAQ:WATT) in a research note issued on Tuesday, Briefing.com reports. The firm set a “buy” rating and a $15.00 price target on the industrial products company’s stock. HC Wainwright‘s target price would indicate a potential upside of 77.73% from the company’s current price.

A number of other research analysts have also recently issued reports on WATT. Wall Street Zen cut Energous from a “hold” rating to a “sell” rating in a research note on Saturday, October 17th. Weiss Ratings raised Energous from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, October 21st. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $15.00.

Energous Stock Down 3.9%

Shares of NASDAQ:WATT opened at $8.44 on Tuesday. The stock has a market cap of $46.65 million, a PE ratio of -3.82 and a beta of 1.51. The company’s fifty day moving average is $11.54 and its 200 day moving average is $16.00. Energous has a 52 week low of $3.62 and a 52 week high of $36.98.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in WATT. AIGH Capital Management LLC purchased a new position in shares of Energous in the first quarter worth $3,373,000. GatePass Capital LLC bought a new stake in Energous during the 1st quarter valued at $1,820,000. NewEdge Advisors LLC boosted its position in Energous by 8,628.4% during the 1st quarter. NewEdge Advisors LLC now owns 31,946 shares of the industrial products company’s stock valued at $501,000 after buying an additional 31,580 shares during the period. Headlands Technologies LLC purchased a new stake in Energous during the 2nd quarter valued at $473,000. Finally, 3Chopt Investment Partners LLC purchased a new stake in Energous during the 1st quarter valued at $282,000. Institutional investors own 4.35% of the company’s stock.

Energous Company Profile

Energous Corporation develops wireless power-at-a-distance technology and related semiconductor solutions. Its WattUp platform is designed to transmit radio frequency (RF) energy wirelessly to compatible devices, reducing or eliminating the need for traditional charging cables and charging pads.

The company’s products include wireless power transmitters, receivers, reference designs and software intended for integration into connected devices and commercial systems. Its technology is aimed at applications across the Internet of Things, consumer electronics, healthcare, industrial equipment, retail and logistics, including sensors, wearables, asset-tracking devices and other low-power electronics.

Founded in 2012 and headquartered in San Jose, California, Energous has pursued partnerships and commercialization opportunities with technology and hardware companies in multiple international markets.