According to Zacks, “Energous Corporation is a developer of a disruptive wire-free charging technology. It solutions enables wireless charging or powering of electronic devices at distance. The wireless charging solution, it is developing employs three dimensional (3D) pocketforming. Energous Corporation is headquartered in Pleasanton, California. “
Separately, Oppenheimer Holdings Inc. restated an outperform rating and set a $15.00 price objective (up previously from $13.00) on shares of Energous Corp. in a report on Tuesday, August 16th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Energous Corp. presently has a consensus rating of Buy and an average target price of $14.75.
Shares of Energous Corp. (NASDAQ:WATT) opened at 16.23 on Tuesday. The company’s market cap is $276.61 million. The stock’s 50 day moving average price is $17.60 and its 200-day moving average price is $13.25. Energous Corp. has a 12-month low of $3.65 and a 12-month high of $20.13.
Energous Corp. (NASDAQ:WATT) last posted its quarterly earnings data on Tuesday, August 9th. The company reported ($0.62) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.62). On average, equities research analysts forecast that Energous Corp. will post ($1.95) earnings per share for the current year.
A number of hedge funds have recently bought and sold shares of the stock. Wealthsource Partners LLC acquired a new stake in Energous Corp. during the first quarter worth $250,000. Cadence Capital Management LLC boosted its stake in Energous Corp. by 68.8% in the second quarter. Cadence Capital Management LLC now owns 41,270 shares of the company’s stock worth $534,000 after buying an additional 16,820 shares during the last quarter. State Street Corp acquired a new stake in Energous Corp. during the first quarter worth $160,000. California State Teachers Retirement System acquired a new stake in Energous Corp. during the second quarter worth $402,000. Finally, Renaissance Technologies LLC acquired a new stake in Energous Corp. during the first quarter worth $559,000. 24.28% of the stock is currently owned by institutional investors and hedge funds.
About Energous Corp.
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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