Energous (NASDAQ:WATT) Stock Crosses Below 200 Day Moving Average of $1.47

Energous Co. (NASDAQ:WATT)’s share price crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $1.47 and traded as low as $0.73. Energous shares last traded at $0.76, with a volume of 33,759 shares changing hands.

Wall Street Analysts Forecast Growth

WATT has been the topic of several research reports. StockNews.com assumed coverage on shares of Energous in a report on Thursday, May 2nd. They issued a “sell” rating on the stock. LADENBURG THALM/SH SH upgraded shares of Energous from a “neutral” rating to a “buy” rating and set a $2.00 price target on the stock in a research note on Thursday, May 16th. Finally, Roth Mkm cut their price objective on shares of Energous from $4.00 to $2.50 and set a “buy” rating for the company in a research report on Thursday, May 16th.

Energous Stock Performance

The stock has a market capitalization of $4.88 million, a price-to-earnings ratio of -0.21 and a beta of 2.63. The business has a fifty day simple moving average of $1.00 and a 200 day simple moving average of $1.47.

Hedge Funds Weigh In On Energous

A hedge fund recently raised its stake in Energous stock. Armistice Capital LLC lifted its holdings in shares of Energous Co. (NASDAQ:WATT) by 44.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 408,000 shares of the industrial products company’s stock after purchasing an additional 126,409 shares during the quarter. Armistice Capital LLC owned 6.24% of Energous worth $445,000 as of its most recent SEC filing. Institutional investors own 4.35% of the company’s stock.

About Energous

Energous Corporation provides wireless charging system solutions in the United States. The company develops WattUp wireless power networks technology that consists of semiconductor chipsets; software controls; hardware designs; and antennas that enables radio frequency-based charging for Internet of Things devices.