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.
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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