$800,000.00 in Sales Expected for Energous Corp (WATT) This Quarter

Brokerages forecast that Energous Corp (NASDAQ:WATT) will report $800,000.00 in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Energous’ earnings, with estimates ranging from $400,000.00 to $1.20 million. Energous reported sales of $30,000.00 during the same quarter last year, which would suggest a positive year-over-year growth rate of 2,566.7%. The business is scheduled to report its next earnings report on Thursday, February 21st.

On average, analysts expect that Energous will report full year sales of $1.28 million for the current year, with estimates ranging from $900,000.00 to $1.66 million. For the next year, analysts anticipate that the company will post sales of $22.40 million, with estimates ranging from $1.90 million to $42.90 million. Zacks’ sales calculations are an average based on a survey of research firms that cover Energous.

Energous (NASDAQ:WATT) last posted its quarterly earnings data on Tuesday, October 30th. The industrial products company reported ($0.49) EPS for the quarter, hitting the consensus estimate of ($0.49). The business had revenue of $0.23 million for the quarter, compared to analyst estimates of $0.20 million. Energous had a negative net margin of 10,168.85% and a negative return on equity of 170.01%.

Several research firms have recently issued reports on WATT. Roth Capital set a $25.00 target price on shares of Energous and gave the stock a “buy” rating in a report on Wednesday, October 31st. National Securities reissued a “buy” rating and issued a $35.00 price target on shares of Energous in a report on Wednesday, October 31st. ValuEngine lowered shares of Energous from a “buy” rating to a “hold” rating in a report on Tuesday, September 4th. Finally, LADENBURG THALM/SH SH cut shares of Energous from a “buy” rating to a “neutral” rating and set a $8.00 target price on the stock. in a research report on Wednesday, October 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $22.00.

A number of institutional investors have recently added to or reduced their stakes in WATT. BlackRock Inc. increased its position in shares of Energous by 21.2% in the second quarter. BlackRock Inc. now owns 1,622,437 shares of the industrial products company’s stock valued at $24,060,000 after buying an additional 283,821 shares in the last quarter. Vanguard Group Inc. increased its holdings in Energous by 7.6% during the 3rd quarter. Vanguard Group Inc. now owns 993,462 shares of the industrial products company’s stock worth $10,054,000 after purchasing an additional 70,325 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Energous by 21.9% in the 2nd quarter. Northern Trust Corp now owns 254,363 shares of the industrial products company’s stock valued at $3,772,000 after acquiring an additional 45,684 shares during the last quarter. Morgan Stanley increased its holdings in shares of Energous by 40.1% in the 3rd quarter. Morgan Stanley now owns 198,013 shares of the industrial products company’s stock valued at $2,004,000 after acquiring an additional 56,647 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Energous by 13.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 69,271 shares of the industrial products company’s stock valued at $1,027,000 after acquiring an additional 8,450 shares during the last quarter. 23.63% of the stock is owned by institutional investors.

Shares of WATT traded down $0.05 during mid-day trading on Friday, hitting $8.00. 125,288 shares of the company traded hands, compared to its average volume of 470,637. Energous has a 1 year low of $7.36 and a 1 year high of $33.50. The stock has a market capitalization of $204.96 million, a price-to-earnings ratio of -3.46 and a beta of 1.66.

About Energous

Energous Corporation engages in the development of a wire-free charging system. It develops WattUp that consists of semiconductor chipsets, software, hardware designs, and antennas that enables radio frequency based wire-free charging for electronic devices, providing power at a distance and enables charging with mobility under software control.

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