Why Shares of Energous Corporation (WATT) Are Going Crazy

Energous Corporation (NASDAQ: WATT) is 73.89% higher on its value in year-to-date trading and has touched a low of $0.61 and a high of $4.58 in the current 52-week trading range. The WATT stock was last observed hovering at around $3.13 in the last trading session, with the day’s loss setting it -0.1% off its average median price target of $6.00 for the next 12 months. It is also 56.71% off the consensus price target high of $7.00 offered by 2 analysts, but current levels are 39.4% higher than the price target low of $5.00 for the same period.

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Currently trading at $3.03, the stock is 40.25% and 46.43% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.16 million and changing -3.19% at the moment leaves the stock 22.73% off its SMA200. WATT registered 72.93% gain for a year compared to 6-month loss of -0.95%. The firm has a 50-day simple moving average (SMA 50) of $2.0355 and a 200-day simple moving average (SMA200) of $2.7204.

The stock witnessed a 79.89% gain in the last 1 month and extending the period to 3 months gives it a 15.93%, and is 55.72% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 20.65% over the week and 13.79% over the month.

Energous Corporation (WATT) has around 51 employees, a market worth around $143.45M and $0.30M in sales. Distance from 52-week low is 396.72% and -33.84% from its 52-week high. The company has generated returns on investments over the last 12 months (-204.30%).

Energous Corporation (WATT) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Energous Corporation (WATT) is a “Buy”. 2 analysts offering their recommendations for the stock have an average rating of 1.50, where 0 rate it as a Hold and 0 think it is a “Overweight”. 2 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Energous Corporation is expected to release its quarterly report on 05/12/2021 and quarterly earnings per share for the current quarter are estimated at -$0.12 with sales reaching $170k over the same period.The EPS is expected to grow by 36.40% this year, but quarterly earnings will post 105.00% year-over-year. Quarterly sales are estimated to grow 269.60% in year-over-year returns.

Energous Corporation (WATT) Top Institutional Holders

82 institutions hold shares in Energous Corporation (WATT), with 2.78M shares held by insiders accounting for 6.24% while institutional investors hold 13.65% of the company’s shares. The shares outstanding are 41.86M, and float is at 41.61M with Short Float at 4.36%. Institutions hold 12.80% of the Float.

The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 2.07 million shares valued at $6.11 million. The investor’s holdings represent 4.65% of the WATT Shares outstanding. As of Sep 29, 2020, the second largest holder is Blackrock Inc. with 0.77 million shares valued at $2.27 million to account for 1.73% of the shares outstanding. The other top investors are Susquehanna International Group, LLP which holds 0.58 million shares representing 1.30% and valued at over $1.71 million, while Doheny Asset Management LLC holds 0.93% of the shares totaling 0.41 million with a market value of $1.22 million.

Energous Corporation (WATT) Insider Activity

A total of 31 insider transactions have happened at Energous Corporation (WATT) in the last six months, with sales accounting for 16 and purchases happening 15 times. The most recent transaction is an insider sale by Sereda Brian J, the company’s Senior Vice President & CFO. SEC filings show that Sereda Brian J sold 4,471 shares of the company’s common stock on Jan 04 at a price of $1.89 per share for a total of $8450.0. Following the sale, the insider now owns 0.28 million shares.

Energous Corporation disclosed in a document filed with the SEC on Jan 04 that Sahejpal Neeraj (Senior VP, Product Marketing) sold a total of 3,682 shares of the company’s common stock. The trade occurred on Jan 04 and was made at $1.89 per share for $6959.0. Following the transaction, the insider now directly holds 0.27 million shares of the WATT stock.

Still, SEC filings show that on Jan 04, Patel Rahul G. (Director) disposed off 9,589 shares at an average price of $1.89 for $18123.0. The insider now directly holds 25,000 shares of Energous Corporation (WATT).

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Energous Corporation (WATT): Who are the competitors?

The company’s main competitors (and peers) include BlackBerry Limited (BB) that is 12.05% higher over the past 12 months. Short interest in the company’s stock has fallen -8.78% from the last report on Nov 29, 2020 to stand at a total of 2.85 million short shares sold with a short interest ratio of 0.51.

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