Reviewing The Case For Energous Corporation (WATT) Going Higher


SSgA Funds Management, Inc. recently announced the acquisition of new stake in Energous Corporation (NASDAQ:WATT). The institutional investor has increased its shareholding in the Technology company by 10.72% to 0.47 million shares with purchase of 45807.0 shares. This fresh investment now brings its stake to 1.16% valued currently at $1.33 million. In addition, Geode Capital Management LLC raised its holdings by 93293.0 to 0.42 million shares.

With over 0.97 million Energous Corporation (WATT) shares trading Friday and a closing price of $2.97 on the day, the dollar volume was approximately $2.89 million. The shares have shown a negative weekly performance of -9.17% and its price on 07/24/20 lost nearly -2.94%. Currently, there are 40.88M common shares owned by the public and among those 36.84M shares have been available to trade.

An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 2 analysts who have offered their price forecasts for WATT have a consensus price objective of $6.00. The analysts have set the share’s price value over the next 12 months at a high of $7.00 and a low of $5.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Energous Corporation stock is 1.50 for the next 12 months. But an upside of 57.57% will see the stock hit the forecast high price target while mean target price for the stock is $6.00.

Insiders at the company have transacted a total of 39 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 7 of these insider trades were purchases, accounting for 621,924 shares. Insider sales of the common stock occurred on 32 occasions, with total insider shares sold totaling 278,953 shares.

The top 3 mutual fund holders in Energous Corporation are Vanguard Total Stock Market Index, Vanguard Extended Market Index Fu, and Fidelity Small Cap Index Fund. Vanguard Total Stock Market Index owns 0.7 million shares of the company’s stock, all valued at over $1.99 million. Fidelity Small Cap Index Fund bought 26466.0 shares to bring its total holdings to over 0.16 million shares at a value of $0.44 million. Fidelity Small Cap Index Fund now owns shares totaling to 0.38% of the shares outstanding.

Shares of Energous Corporation (NASDAQ: WATT) opened at $3.31, up $0.25 from a prior closing price of $3.06. However, the script later closed the day at $2.97, down -2.94%. The company’s stock has a 5-day price change of -9.17% and 28.57% over the past three months. WATT shares are trading 67.80% year to date (YTD), with the 12-month market performance down to -28.09% lower. It has a 12-month low price of $0.61 and touched a high of $4.59 over the same period. Currently, 0.97 million shares have been traded, compared to an average intraday trading volume of 2.49 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -7.26%, 14.09%, and 44.78% respectively.

Institutional ownership of Energous Corporation (NASDAQ: WATT) shares accounts for 15.80% of the company’s 40.88M shares outstanding. Mutual fund holders own 14.05%, while other institutional holders and individual stakeholders account for 5.41% and 10.06% respectively.

It has a market capitalization of $131.72M and a beta (3y monthly) value of 3.89. The earnings-per-share (ttm) stands at -$1.13. Price movements for the stock have been influenced by the stock’s volatility, which stands at 8.06% over the week and 10.49% over the month.

Analysts forecast that Energous Corporation (WATT) will achieve an EPS of -$0.2 for the current quarter, -$0.18 for the next quarter and -$0.45 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.22 while analysts give the company a high EPS estimate of -$0.18. Comparatively, EPS for the current quarter was -$0.32 a year ago. Earnings per share for the fiscal year are expected to increase by 36.40%, and 39.20% over the next financial year.

If you are looking to buy this stock, then you may note that the average analyst recommendation by 2 brokerage firm advisors rate Energous Corporation (WATT) as a “Strong Buy” at a consensus score of 1.50. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 0 of the 2 advise that investors “hold,” and 0 rated it as a “Sell.”

Looking at the support for the WATT, a number of firms have released research notes about the stock. Ladenburg Thalmann stated their Buy rating for the stock in a research note on May 01, 2019, with the firm’s price target at $6.50. Ladenburg Thalmann coverage for the Energous Corporation (WATT) stock in a research note released on October 31, 2018 offered a Neutral rating with a price target of. Ladenburg Thalmann was of a view on January 03, 2018 that the stock is Buy, while ROTH Capital gave the stock Buy rating on December 28, 2017, issuing a price target of $22.80- $45.80. Oppenheimer on their part issued Perform rating on January 24, 2017.


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