In the last trading session, 28,872,850 shares of the Energous Corporation(NASDAQ:WATT) were traded, and its beta was 3.48. Most recently the company’s share price was $5.38, and it changed around -$1.85 or -0.26% from the last close, which brings the market valuation of the company to $239.66 Million. WATT currently trades at a discount to its 52-week high of $7.69, offering almost -42.94% off that amount. The share price’s 52-week low was $0.61, which indicates that the current value has risen by an impressive 88.66% since then. We note from Energous Corporation’s average daily trading volume that its 10-day average is 46.4 Million shares, with the 3-month average coming to 8.62 Million.
Energous Corporation stock received a consensus recommendation rating of Buy, based on a mean score of 1.5. If we narrow it down even further, the data shows that none out of 2 analysts rate the stock as a Sell; another but none rate it as Overweight. Among the rest, no body recommended WATT as a Hold, whereas 2 deemed it a Buy, and no one rated it as Underweight. Energous Corporation is expected to report earnings per share of -$0.12 for the current quarter.
Energous Corporation (NASDAQ:WATT): Trading Information
Although WATT has showed a red trend with a performance of -25.59% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of $7.69- on Friday, Feb 19 increased the stock’s daily price by 30.04%. The company’s shares are currently up 1.99% year-to-date, but still up 0.2368 over the last five days. On the other hand, Energous Corporation (NASDAQ:WATT) is 0.59% up in the 30-day period. We can see from the shorts that 2.99 Million shares have been sold at a short interest cover period of 0.35 day(s).
The consensus price target as assigned by Wall Street analysts is $6, which translates to bears needing to increase their stock price by 11.52% from its current value. Analyst projections state that WATT is forecast to be at a low of $5 and a high of $7. In order for the stock price to hit the forecast high, the stock would need to surge +30.11% from its current level, while the stock would need to crash -7.06% from its current level to reach the projected low.
Energous Corporation (WATT) projections and forecasts
Energous Corporation share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen +44.62 percent over the past six months and at a 53.54% annual growth rate that is well above the industry average of 14.3%. Moreover, analysts have decided to roll up on their fiscal year 2021 revenue estimates. The rating firms predict that it will gain +58.6% in revenue this quarter, and will report an increase of 27.8% in the next quarter. The year-over-year growth rate is expected to be 105%, up from the previous year.
Consensus estimates provided by 2 financial analysts predict the company will bring in an average of $170Million in revenue for the current quarter. 1 analysts expect Energous Corporation to make $100Million in revenue for the quarter ending March 01, 2021. The company’s sales for the same quarter a year ago was $46Million. Analysts predict that the company’s current quarter sales will jump, forecast at 269.6%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 26.1%. Energous Corporation earnings are expected to increase by 36.4% in 2021, but the outlook is negative 0% per year for the next five years.
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Energous Corporation (NASDAQ:WATT)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 6.24% of Energous Corporation shares, and 12.8% of them are in the hands of institutional investors. The stock currently has a share float of 13.65%. Energous Corporation stock is held by 82 institutions, with Vanguard Group, Inc. (The) being the largest institutional investor. By Sep 29, 2020, it held 4.65% of the shares, which is about 2.07 Million shares worth $6.11 Million.
Blackrock Inc., with 1.75% or 779.64 Thousand shares worth $1.4 Million as of Dec 30, 2020, holds the second largest percentage of outstanding shares.