Energous Corp (NASDAQ:WATT) was the recipient of a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 3,400,000 shares, an increase of 29.3% from the August 15th total of 2,630,000 shares. Based on an average daily volume of 2,190,000 shares, the days-to-cover ratio is presently 1.6 days.
Separately, Zacks Investment Research lowered Energous from a “buy” rating to a “sell” rating in a report on Thursday, August 20th.
In related news, CFO Brian J. Sereda sold 11,075 shares of the firm’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $3.30, for a total transaction of $36,547.50. Following the sale, the chief financial officer now directly owns 297,115 shares of the company’s stock, valued at $980,479.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Cesar Johnston sold 19,296 shares of the firm’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $3.30, for a total value of $63,676.80. Following the sale, the chief operating officer now directly owns 395,785 shares in the company, valued at $1,306,090.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 60,873 shares of company stock valued at $202,999. Company insiders own 5.10% of the company’s stock.
Large investors have recently bought and sold shares of the business. RMR Wealth Builders acquired a new position in Energous during the 2nd quarter worth $25,000. Wells Fargo & Company MN grew its stake in Energous by 68.2% during the 1st quarter. Wells Fargo & Company MN now owns 57,451 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 23,299 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Energous by 42.6% during the 1st quarter. Bank of New York Mellon Corp now owns 101,375 shares of the industrial products company’s stock worth $75,000 after purchasing an additional 30,273 shares in the last quarter. Alliancebernstein L.P. grew its stake in Energous by 171.7% during the 1st quarter. Alliancebernstein L.P. now owns 51,900 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 32,800 shares in the last quarter. Finally, State Street Corp grew its stake in Energous by 10.7% during the 1st quarter. State Street Corp now owns 473,298 shares of the industrial products company’s stock worth $352,000 after purchasing an additional 45,807 shares in the last quarter. Institutional investors own 10.46% of the company’s stock.
NASDAQ:WATT opened at $3.07 on Thursday. Energous has a 52 week low of $0.61 and a 52 week high of $4.58. The company has a quick ratio of 6.38, a current ratio of 6.38 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $127.81 million, a P/E ratio of -3.04 and a beta of 3.95. The stock’s fifty day moving average is $3.34 and its two-hundred day moving average is $2.28.
Energous (NASDAQ:WATT) last posted its earnings results on Wednesday, August 5th. The industrial products company reported ($0.20) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.18) by ($0.02). Energous had a negative net margin of 13,071.48% and a negative return on equity of 171.68%. The business had revenue of $0.11 million during the quarter, compared to analysts’ expectations of $0.10 million. Sell-side analysts anticipate that Energous will post -0.84 earnings per share for the current fiscal year.
Energous Corporation develops wire-free charging solutions. The company develops WattUp wireless power technology that consists of semiconductor chipsets, software controls, hardware designs, and antennas that enables radio frequency based wire-free charging for electronic devices. It has a collaboration with vivo Global to explore integrating WattUp into smartphone designs that charge wirelessly over-the-air.
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