Morgan Stanley boosted its stake in shares of Energous Corporation (NASDAQ:WATT) by 228.0% during the first quarter, Holdings Channel reports. The firm owned 287,005 shares of the industrial products company’s stock after buying an additional 199,493 shares during the period. Morgan Stanley’s holdings in Energous Corporation were worth $4,477,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Creative Planning increased its stake in shares of Energous Corporation by 7.2% in the first quarter. Creative Planning now owns 8,990 shares of the industrial products company’s stock valued at $140,000 after buying an additional 600 shares during the period. Quantbot Technologies LP increased its stake in shares of Energous Corporation by 516.9% in the first quarter. Quantbot Technologies LP now owns 9,512 shares of the industrial products company’s stock valued at $148,000 after buying an additional 7,970 shares during the period. Wells Fargo & Company MN increased its stake in shares of Energous Corporation by 75.6% in the first quarter. Wells Fargo & Company MN now owns 30,217 shares of the industrial products company’s stock valued at $472,000 after buying an additional 13,013 shares during the period. Teachers Advisors LLC increased its stake in shares of Energous Corporation by 6.9% in the fourth quarter. Teachers Advisors LLC now owns 25,778 shares of the industrial products company’s stock valued at $434,000 after buying an additional 1,665 shares during the period. Finally, State Street Corp increased its stake in shares of Energous Corporation by 4.2% in the fourth quarter. State Street Corp now owns 229,297 shares of the industrial products company’s stock valued at $3,862,000 after buying an additional 9,216 shares during the period. 40.17% of the stock is owned by institutional investors.

Energous Corporation (WATT) traded down 2.18% during mid-day trading on Friday, hitting $12.14. 496,769 shares of the stock were exchanged. Energous Corporation has a one year low of $11.80 and a one year high of $20.55. The company has a 50-day moving average price of $15.31 and a 200-day moving average price of $15.12. The company’s market cap is $265.85 million.

Energous Corporation (NASDAQ:WATT) last posted its earnings results on Tuesday, August 8th. The industrial products company reported ($0.63) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.63). Energous Corporation had a negative return on equity of 237.18% and a negative net margin of 2,495.17%. The firm had revenue of $0.30 million during the quarter, compared to analyst estimates of $0.43 million. On average, analysts predict that Energous Corporation will post ($2.26) earnings per share for the current fiscal year.

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Several analysts have issued reports on WATT shares. Roth Capital set a $23.00 price objective on shares of Energous Corporation and gave the company a “buy” rating in a research report on Thursday, May 11th. ValuEngine downgraded shares of Energous Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Ladenburg Thalmann Financial Services reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Energous Corporation in a research report on Thursday, May 11th. BidaskClub downgraded shares of Energous Corporation from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Finally, Zacks Investment Research raised shares of Energous Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, May 16th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $17.75.

In other Energous Corporation news, Director John Gaulding sold 2,140 shares of Energous Corporation stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $15.85, for a total value of $33,919.00. Following the transaction, the director now directly owns 86,155 shares of the company’s stock, valued at approximately $1,365,556.75. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Neeraj Sahejpal sold 1,615 shares of Energous Corporation stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $15.85, for a total value of $25,597.75. Following the completion of the transaction, the vice president now directly owns 104,820 shares in the company, valued at $1,661,397. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,593 shares of company stock worth $395,217. Company insiders own 6.20% of the company’s stock.

Energous Corporation Company Profile

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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Institutional Ownership by Quarter for Energous Corporation (NASDAQ:WATT)

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