Energous Corporation (WATT) Short Interest Down 4.5% in November

Energous Corporation (NASDAQ:WATT) was the recipient of a large decrease in short interest during the month of November. As of November 30th, there was short interest totalling 5,048,391 shares, a decrease of 4.5% from the November 15th total of 5,285,958 shares. Based on an average trading volume of 247,569 shares, the short-interest ratio is currently 20.4 days. Currently, 28.8% of the shares of the stock are sold short.

WATT has been the topic of a number of recent research reports. ValuEngine upgraded Energous from a “strong sell” rating to a “sell” rating in a research note on Tuesday, November 14th. Zacks Investment Research cut shares of Energous from a “hold” rating to a “sell” rating in a research note on Tuesday, November 14th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $18.67.

Shares of Energous (NASDAQ WATT) opened at $8.83 on Friday. Energous has a 1-year low of $6.91 and a 1-year high of $20.55. The stock has a market capitalization of $202.81, a PE ratio of -3.44 and a beta of 1.86.

Energous (NASDAQ:WATT) last issued its quarterly earnings results on Wednesday, November 8th. The industrial products company reported ($0.58) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.55) by ($0.03). The business had revenue of $0.25 million during the quarter, compared to the consensus estimate of $1.20 million. Energous had a negative return on equity of 263.95% and a negative net margin of 4,203.27%. equities research analysts expect that Energous will post -2.18 EPS for the current year.

In related news, VP Neeraj Sahejpal sold 2,846 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $9.35, for a total value of $26,610.10. Following the transaction, the vice president now owns 89,123 shares in the company, valued at $833,300.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Cesar Johnston sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $12.55, for a total transaction of $188,250.00. Following the completion of the transaction, the vice president now owns 88,991 shares in the company, valued at approximately $1,116,837.05. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,017 shares of company stock worth $243,053. 6.30% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the business. Nationwide Fund Advisors lifted its stake in shares of Energous by 26.0% during the second quarter. Nationwide Fund Advisors now owns 10,741 shares of the industrial products company’s stock valued at $175,000 after acquiring an additional 2,216 shares during the period. SG Americas Securities LLC bought a new position in shares of Energous during the third quarter worth about $187,000. Frontier Investment Mgmt Co. bought a new position in shares of Energous during the second quarter worth about $236,000. The Manufacturers Life Insurance Company grew its holdings in shares of Energous by 32.5% during the second quarter. The Manufacturers Life Insurance Company now owns 15,728 shares of the industrial products company’s stock worth $255,000 after buying an additional 3,855 shares in the last quarter. Finally, Westside Investment Management Inc. grew its holdings in shares of Energous by 9.1% during the second quarter. Westside Investment Management Inc. now owns 18,025 shares of the industrial products company’s stock worth $287,000 after buying an additional 1,500 shares in the last quarter. Hedge funds and other institutional investors own 38.97% of the company’s stock.

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Energous Company Profile

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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