Energous (NASDAQ:WATT) Stock Crosses Above Fifty Day Moving Average – What’s Next?
by Danessa Lincoln · The Markets DailyEnergous Corporation (NASDAQ:WATT – Get Free Report)’s share price crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $9.48 and traded as high as $14.11. Energous shares last traded at $12.61, with a volume of 315,501 shares traded.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Energous in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of “Sell”.
Get Our Latest Stock Report on WATT
Energous Stock Up 26.3%
The stock has a market cap of $39.33 million, a P/E ratio of -1.00 and a beta of 0.80. The firm has a 50 day moving average price of $9.92 and a 200 day moving average price of $7.85.
Hedge Funds Weigh In On Energous
Hedge funds have recently modified their holdings of the company. Flagship Harbor Advisors LLC purchased a new stake in shares of Energous in the third quarter worth $87,000. Geode Capital Management LLC lifted its stake in shares of Energous by 85.4% during the 4th quarter. Geode Capital Management LLC now owns 18,713 shares of the industrial products company’s stock valued at $75,000 after buying an additional 8,619 shares in the last quarter. Finally, Armistice Capital LLC bought a new position in Energous in the 3rd quarter worth $1,202,000. 4.35% of the stock is currently owned by institutional investors.
Energous Company Profile
Energous Corporation develops and commercializes radio frequency (RF)–based wireless charging technology designed to deliver power over the air to compatible devices. Its WattUp platform includes near‐field and far‐field transmitters that emit targeted RF energy and receiver modules that convert that energy into electrical power. The company’s solutions aim to eliminate the need for cables and charging pads by enabling contactless power delivery to a range of products, from wearables and IoT sensors to medical devices and consumer electronics.