Insider Selling: Energous Corporation (WATT) Director Sells 2,140 Shares of Stock

Energous Corporation (NASDAQ:WATT) Director John Gaulding sold 2,140 shares of the company’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $15.85, for a total value of $33,919.00. Following the completion of the transaction, the director now owns 86,155 shares in the company, valued at approximately $1,365,556.75. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Energous Corporation (NASDAQ:WATT) traded down 1.44% during trading on Friday, reaching $15.72. The company had a trading volume of 279,229 shares. Energous Corporation has a 52-week low of $9.86 and a 52-week high of $20.55. The company has a 50 day moving average price of $14.93 and a 200 day moving average price of $15.65. The company’s market capitalization is $324.07 million.

Energous Corporation (NASDAQ:WATT) last announced its earnings results on Wednesday, May 10th. The industrial products company reported ($0.61) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.56) by $0.05. Energous Corporation had a negative net margin of 2,511.58% and a negative return on equity of 224.53%. The firm had revenue of $0.58 million during the quarter, compared to analyst estimates of $0.50 million. On average, equities analysts forecast that Energous Corporation will post ($2.26) EPS for the current fiscal year.

Insider Buying and Selling by Quarter for Energous Corporation (NASDAQ:WATT)

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A number of large investors have recently made changes to their positions in WATT. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Energous Corporation by 182.4% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,128 shares of the industrial products company’s stock worth $137,000 after buying an additional 5,250 shares in the last quarter. Creative Planning raised its stake in shares of Energous Corporation by 7.2% in the first quarter. Creative Planning now owns 8,990 shares of the industrial products company’s stock worth $140,000 after buying an additional 600 shares in the last quarter. American International Group Inc. raised its stake in shares of Energous Corporation by 7.1% in the first quarter. American International Group Inc. now owns 9,130 shares of the industrial products company’s stock worth $142,000 after buying an additional 607 shares in the last quarter. Quantbot Technologies LP raised its stake in shares of Energous Corporation by 516.9% in the first quarter. Quantbot Technologies LP now owns 9,512 shares of the industrial products company’s stock worth $148,000 after buying an additional 7,970 shares in the last quarter. Finally, Oppenheimer & Co. Inc. raised its stake in shares of Energous Corporation by 16.9% in the first quarter. Oppenheimer & Co. Inc. now owns 11,797 shares of the industrial products company’s stock worth $184,000 after buying an additional 1,702 shares in the last quarter. 40.40% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have recently weighed in on WATT. Ladenburg Thalmann Financial Services reiterated a “buy” rating and issued a $18.00 target price on shares of Energous Corporation in a report on Thursday, May 11th. Oppenheimer Holdings, Inc. reiterated a “market perform” rating on shares of Energous Corporation in a report on Monday, March 13th. ValuEngine upgraded Energous Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Roth Capital set a $23.00 target price on Energous Corporation and gave the company a “buy” rating in a report on Thursday, May 11th. Finally, Zacks Investment Research upgraded Energous Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, May 16th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $19.00.

Energous Corporation Company Profile

Energous Corporation is engaged in developing a technology called WattUp that consists of semiconductor chipsets, software, hardware designs and antennas that can enable radio frequency (RF)-based wire-free charging for electronic devices, providing power at a distance and enabling charging with mobility under software control.

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