Energous (NASDAQ:WATT) Share Price Passes Below 200-Day Moving Average – Time to Sell?

Energous Co. (NASDAQ:WATT) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.80 and traded as low as $0.32. Energous shares last traded at $0.32, with a volume of 476,166 shares.

Energous Stock Performance

The firm has a market cap of $2.81 million, a P/E ratio of -0.10 and a beta of 2.60. The stock has a fifty day simple moving average of $0.52 and a 200 day simple moving average of $0.79.

Energous (NASDAQ:WATT) last announced its quarterly earnings results on Tuesday, November 12th. The industrial products company reported ($0.50) EPS for the quarter, beating analysts’ consensus estimates of ($0.74) by $0.24. Energous had a negative net margin of 4,368.98% and a negative return on equity of 317.56%. The firm had revenue of $0.23 million during the quarter.

Hedge Funds Weigh In On Energous

A hedge fund recently raised its stake in Energous stock. Armistice Capital LLC raised its stake in Energous Co. (NASDAQ:WATT) by 44.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund 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 at the end of the most recent reporting period. Hedge funds and other 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.