State Board of Administration of Florida Retirement System raised its position in Energous Corp (NASDAQ:WATT) by 21.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,145 shares of the industrial products company’s stock after acquiring an additional 3,980 shares during the quarter. State Board of Administration of Florida Retirement System owned 0.09% of Energous worth $328,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Wells Fargo & Company MN increased its position in Energous by 23.3% during the first quarter. Wells Fargo & Company MN now owns 26,388 shares of the industrial products company’s stock worth $424,000 after purchasing an additional 4,981 shares during the last quarter. Wedbush Securities Inc. acquired a new stake in shares of Energous during the first quarter valued at about $218,000. PNC Financial Services Group Inc. acquired a new stake in shares of Energous during the first quarter valued at about $138,000. Commonwealth Equity Services LLC increased its position in shares of Energous by 34.1% during the first quarter. Commonwealth Equity Services LLC now owns 17,139 shares of the industrial products company’s stock valued at $274,000 after acquiring an additional 4,354 shares during the last quarter. Finally, MetLife Investment Advisors LLC acquired a new stake in shares of Energous during the first quarter valued at about $144,000. 24.06% of the stock is owned by institutional investors.
Shares of WATT opened at $10.86 on Friday. Energous Corp has a 1-year low of $6.91 and a 1-year high of $33.50. The stock has a market cap of $296.42 million, a price-to-earnings ratio of -4.70 and a beta of 1.44.
Energous (NASDAQ:WATT) last announced its quarterly earnings data on Wednesday, August 1st. The industrial products company reported ($0.48) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.06. The firm had revenue of $0.21 million during the quarter, compared to analysts’ expectations of $0.22 million. Energous had a negative net margin of 9,750.39% and a negative return on equity of 182.29%. equities research analysts anticipate that Energous Corp will post -2.06 EPS for the current year.
A number of equities research analysts have weighed in on WATT shares. ValuEngine cut shares of Energous from a “hold” rating to a “sell” rating in a research report on Friday, May 18th. Zacks Investment Research cut shares of Energous from a “buy” rating to a “hold” rating in a research report on Friday, June 1st. BidaskClub cut shares of Energous from a “hold” rating to a “sell” rating in a research report on Friday, June 8th. Roth Capital dropped their price target on shares of Energous from $48.50 to $24.50 and set a “buy” rating for the company in a research report on Thursday, August 2nd. Finally, National Securities reiterated a “buy” rating and set a $35.00 price target on shares of Energous in a research report on Sunday, August 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $27.88.
In related news, insider Brian J. Sereda sold 10,540 shares of Energous stock in a transaction that occurred on Monday, July 16th. The shares were sold at an average price of $15.54, for a total value of $163,791.60. Following the completion of the transaction, the insider now owns 130,202 shares in the company, valued at $2,023,339.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Cesar Johnston sold 8,780 shares of Energous stock in a transaction that occurred on Monday, July 16th. The shares were sold at an average price of $15.54, for a total transaction of $136,441.20. Following the completion of the transaction, the executive vice president now owns 177,363 shares of the company’s stock, valued at approximately $2,756,221.02. The disclosure for this sale can be found here. Insiders sold 37,082 shares of company stock valued at $523,856 in the last 90 days. Company insiders own 6.80% of the company’s stock.
Energous Corporation engages in the development of a wire-free charging system. It develops WattUp that consists of semiconductor chipsets, software, hardware designs, and antennas that enables radio frequency based wire-free charging for electronic devices, providing power at a distance and enables charging with mobility under software control.
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