Energous Corporation [WATT] Revenue clocked in at $0.30 million, up 20.90% YTD: What’s Next?

Energous Corporation [NASDAQ: WATT] price plunged by -8.55 percent to reach at -$0.2. The company report on November 10, 2020 that Energous Corporation Reports Third Quarter 2020 Financial Results.

Energous Corporation (NASDAQ: WATT), the developer of WattUp®, a revolutionary Wireless Charging 2.0 technology today announced financial results for the third quarter ended Sept. 30, 2020 and provided an update on its operational progress.

Recent Highlights .

A sum of 1020432 shares traded at recent session while its average daily volume was at 1.12M shares. Energous Corporation shares reached a high of $2.3329 and dropped to a low of $2.105 until finishing in the latest session at $2.14.

The average equity rating for WATT stock is currently 1.50, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Energous Corporation [WATT]:

Ladenburg Thalmann have made an estimate for Energous Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on May 01, 2019. The new note on the price target was released on October 31, 2018, representing the official price target for Energous Corporation stock. Previously, the target price had yet another raise from $20 to $32, while Ladenburg Thalmann kept a Buy rating on WATT stock. On December 28, 2017, analysts increased their price target for WATT shares from 22.80 to 45.80.

The Average True Range (ATR) for Energous Corporation is set at 0.17, with the Price to Sales ratio for WATT stock in the period of the last 12 months amounting to 303.88. The Price to Book ratio for the last quarter was 4.04, with the Price to Cash per share for the same quarter was set at 0.55.

WATT Stock Performance Analysis:

Energous Corporation [WATT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.55. With this latest performance, WATT shares dropped by -23.02% in over the last four-week period, additionally plugging by 14.44% over the last 6 months – not to mention a drop of -1.38% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for WATT stock in for the last two-week period is set at 36.77, with the RSI for the last a single of trading hit 37.06, and the three-weeks RSI is set at 38.03 for Energous Corporation [WATT]. The present Moving Average for the last 50 days of trading for this stock 2.76, while it was recorded at 2.20 for the last single week of trading, and 2.32 for the last 200 days.

Insight into Energous Corporation Fundamentals:

Energous Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 6.40 and a Current Ratio set at 6.40.

WATT Stock EPS

With the latest financial reports released by the company, Energous Corporation posted -0.29/share EPS, while the average EPS was predicted by analysts to be reported at -0.28/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -3.60%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for WATT.

Energous Corporation [WATT] Insider Position Details

There are presently around $10 million, or 10.50% of WATT stock, in the hands of institutional investors. The top three institutional holders of WATT stocks are: VANGUARD GROUP INC with ownership of 1,064,825, which is approximately -9.133% of the company’s market cap and around 3.30% of the total institutional ownership; BLACKROCK INC., holding 769,169 shares of the stock with an approximate value of $1.65 million in WATT stocks shares; and SUSQUEHANNA INTERNATIONAL GROUP, LLP, currently with $0.61 million in WATT stock with ownership of nearly -30.607% of the company’s market capitalization.

39 institutional holders increased their position in Energous Corporation [NASDAQ:WATT] by around 1,277,481 shares. Additionally, 36 investors decreased positions by around 1,394,335 shares, while 22 investors held positions by with 1,875,373 shares. The mentioned changes placed institutional holdings at 4,547,189 shares, according to the latest SEC report filing. WATT stock had 22 new institutional investments in for a total of 1,118,473 shares, while 20 institutional investors sold positions of 491,114 shares during the same period.

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