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

Energous Co. (NASDAQ:WATT) shares 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 changing hands.

Energous Stock Up 2.9 %

The company has a market cap of $2.81 million, a PE ratio of -0.10 and a beta of 2.60. The business’s 50 day moving average price is $0.52 and its 200-day moving average price is $0.80.

Energous (NASDAQ:WATT) last issued its quarterly earnings data on Tuesday, November 12th. The industrial products company reported ($0.50) EPS for the quarter, topping 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 for the quarter. Equities analysts expect that Energous Co. will post -3.01 earnings per share for the current year.

Hedge Funds Weigh In On Energous

A hedge fund recently raised its stake in Energous stock. Armistice Capital LLC boosted its position in Energous Co. (NASDAQ:WATT) by 44.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 408,000 shares of the industrial products company’s stock after buying 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 quarter. 4.35% of the stock is owned by institutional investors and hedge funds.

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.