Energous (NASDAQ:WATT) Issues Quarterly Earnings Results

Energous (NASDAQ:WATT) posted its quarterly earnings data on Thursday. The industrial products company reported ($0.32) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.37) by $0.05, Fidelity Earnings reports. Energous had a negative net margin of 8,692.28% and a negative return on equity of 169.14%. The company had revenue of $0.05 million during the quarter, compared to analysts’ expectations of $0.12 million.

Shares of WATT traded down $0.21 during midday trading on Friday, reaching $3.79. 281,462 shares of the company were exchanged, compared to its average volume of 749,232. The company’s 50-day moving average is $4.19. The stock has a market capitalization of $115.90 million, a P/E ratio of -1.90 and a beta of 1.73. Energous has a 1-year low of $3.59 and a 1-year high of $14.59.

Several equities research analysts recently issued reports on WATT shares. Zacks Investment Research reissued a “buy” rating and issued a $5.25 target price on shares of Energous in a report on Saturday, July 20th. LADENBURG THALM/SH SH raised Energous from a “neutral” rating to a “buy” rating and set a $6.50 price target for the company in a report on Wednesday, May 1st. ValuEngine raised Energous from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Roth Capital reduced their price target on Energous from $18.10 to $12.70 and set a “buy” rating for the company in a report on Wednesday, May 1st. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Energous has an average rating of “Buy” and a consensus price target of $14.86.

In related news, CFO Brian J. Sereda sold 20,000 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $4.51, for a total value of $90,200.00. Following the completion of the transaction, the chief financial officer now directly owns 169,499 shares of the company’s stock, valued at approximately $764,440.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian J. Sereda sold 15,300 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $4.59, for a total value of $70,227.00. Following the completion of the sale, the insider now owns 139,699 shares of the company’s stock, valued at $641,218.41. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,879 shares of company stock worth $194,681. 7.00% of the stock is currently owned by insiders.

Energous Company Profile

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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Earnings History for Energous (NASDAQ:WATT)

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