Energous (NASDAQ:WATT) Stock Passes Below 200 Day Moving Average – Here’s Why

Energous Co. (NASDAQ:WATT) shares crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.00 and traded as low as $0.56. Energous shares last traded at $0.57, with a volume of 79,334 shares.

Energous Trading Up 0.9 %

The company’s 50-day moving average price is $0.67 and its two-hundred day moving average price is $1.00. The company has a market cap of $3.94 million, a P/E ratio of -0.17 and a beta of 2.61.

Energous (NASDAQ:WATT) last released its earnings results on Thursday, August 8th. The industrial products company reported ($0.73) earnings per share for the quarter, topping the consensus estimate of ($0.87) by $0.14. Energous had a negative net margin of 5,276.82% and a negative return on equity of 203.70%. The company had revenue of $0.05 million during the quarter, compared to the consensus estimate of $0.14 million. As a group, 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 raised its position in shares of Energous Co. (NASDAQ:WATT) by 44.9% in the second quarter, according to its most recent 13F 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 period. Armistice Capital LLC owned 6.24% of Energous worth $445,000 at the end of the most recent quarter. 4.35% of the stock is currently owned by hedge funds and other institutional investors.

Energous Company Profile

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.