Energous (NASDAQ:WATT) Releases Earnings Results, Misses Estimates By $0.01 EPS

Energous (NASDAQ:WATT) posted its earnings results on Wednesday. The industrial products company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.01), Fidelity Earnings reports. The firm had revenue of $0.05 million for the quarter. Energous had a negative net margin of 19,009.41% and a negative return on equity of 139.51%.

Shares of NASDAQ WATT traded down $0.10 during midday trading on Friday, reaching $1.37. 792,952 shares of the stock traded hands, compared to its average volume of 823,599. The company has a debt-to-equity ratio of 0.08, a current ratio of 6.54 and a quick ratio of 6.54. The stock has a market capitalization of $46.31 million, a PE ratio of -1.08 and a beta of 1.61. Energous has a one year low of $1.33 and a one year high of $6.79. The company’s 50 day moving average is $1.76 and its 200 day moving average is $2.56.

WATT has been the subject of a number of research reports. Roth Capital lowered their target price on Energous from $8.20 to $7.00 and set a “buy” rating for the company in a research report on Friday, November 8th. ValuEngine upgraded Energous from a “hold” rating to a “buy” rating in a research report on Friday, January 3rd. Finally, Zacks Investment Research reiterated a “hold” rating and set a $2.00 target price on shares of Energous in a research report on Saturday, January 11th.

In other news, COO Cesar Johnston sold 22,306 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $2.01, for a total transaction of $44,835.06. Following the completion of the transaction, the chief operating officer now directly owns 271,227 shares in the company, valued at approximately $545,166.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 67,374 shares of company stock valued at $128,501 over the last quarter. Corporate insiders own 7.00% of the company’s stock.

About Energous

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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