Energous (NASDAQ:WATT) Receives New Coverage from Analysts at StockNews.com

StockNews.com started coverage on shares of Energous (NASDAQ:WATT) in a report released on Tuesday. The brokerage issued a sell rating on the industrial products company’s stock.

Separately, LADENBURG THALM/SH SH cut shares of Energous from a buy rating to a neutral rating and dropped their price objective for the company from $3.50 to $2.00 in a research note on Friday, April 5th.

Energous Stock Performance

Shares of WATT opened at $1.37 on Tuesday. The stock has a market capitalization of $8.33 million, a P/E ratio of -0.33 and a beta of 2.55. The company’s fifty day moving average is $1.91 and its two-hundred day moving average is $1.87. Energous has a 1 year low of $1.36 and a 1 year high of $9.36.

Hedge Funds Weigh In On Energous

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Armistice Capital LLC acquired a new position in shares of Energous during the 1st quarter worth $4,244,000. BlackRock Inc. grew its stake in shares of Energous by 1.9% during the 1st quarter. BlackRock Inc. now owns 896,760 shares of the industrial products company’s stock worth $1,077,000 after purchasing an additional 17,142 shares during the period. State Street Corp grew its stake in shares of Energous by 8.9% during the 3rd quarter. State Street Corp now owns 208,725 shares of the industrial products company’s stock worth $215,000 after purchasing an additional 17,000 shares during the period. Squarepoint Ops LLC acquired a new position in shares of Energous during the 1st quarter worth $96,000. Finally, Advisor Group Holdings Inc. grew its stake in shares of Energous by 90.6% during the 4th quarter. Advisor Group Holdings Inc. now owns 68,261 shares of the industrial products company’s stock worth $57,000 after purchasing an additional 32,456 shares during the period. 4.35% of the stock is owned by institutional investors and hedge funds.

About Energous

Energous Corporation develops wireless charging applications. The company develops WattUp wireless power technology that consists of semiconductor chipsets, software controls, hardware designs, and antennas that enables radio frequency-based charging for electronic devices. Its products are used in building and home automation, electronic shelf labels, industrial IoT sensors, surface and implanted medical devices, tracking devices, hearables, wearables, consumer electronics, and public safety applications.