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

Energous Co. (NASDAQ:WATT)’s stock price passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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 Down 1.6 %

The stock has a market cap of $3.93 million, a P/E ratio of -0.17 and a beta of 2.62. The stock has a fifty day simple moving average of $0.69 and a 200-day simple moving average of $1.05.

Energous (NASDAQ:WATT) last released its quarterly earnings data 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. The business had revenue of $0.05 million for the quarter, compared to analyst estimates of $0.14 million. Energous had a negative net margin of 5,276.82% and a negative return on equity of 203.70%. Sell-side analysts anticipate 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 increased its holdings in shares of Energous Co. (NASDAQ:WATT) by 44.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm 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 as of its most recent SEC filing. Institutional investors and hedge funds own 4.35% of the company’s stock.

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.