Energous (NASDAQ:WATT) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s Why

Posted by Donna Armstrong on Oct 25th, 2024

Energous Co. (NASDAQ:WATT – Get Free Report) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.05 and traded as low as $0.59. Energous shares last traded at $0.60, with a volume of 34,836 shares changing hands.

Energous Stock Performance

The firm has a market cap of $3.84 million, a price-to-earnings ratio of -0.16 and a beta of 2.62. The firm has a 50-day moving average price of $0.69 and a two-hundred day moving average price of $1.04.

Energous (NASDAQ:WATT – Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The industrial products company reported ($0.73) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.87) by $0.14. Energous had a negative return on equity of 203.70% and a negative net margin of 5,276.82%. The company had revenue of $0.05 million during the quarter, compared to analysts’ expectations of $0.14 million. Research analysts anticipate that Energous Co. will post -3.01 earnings per share for the current year.

Institutional Investors Weigh In On Energous

An institutional investor recently raised its position in Energous stock. Armistice Capital LLC lifted its stake in shares of Energous Co. (NASDAQ:WATT – Free Report) by 44.9% during the second quarter, according to the company in its most recent filing with the Securities & 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 about 6.24% of Energous worth $445,000 at the end of the most recent quarter. 4.35% of the stock is owned by hedge funds and other institutional investors.

Energous Company Profile

(Get Free Report)

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.