Energous Corporation (NASDAQ: WATT) stock jumped 9.23% on Friday to $1.42 against a previous-day closing price of $1.30. With 1.09 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.3 million shares. During the session, the Scientific & Technical Instruments company that operates in wider Technology sector, reached to the highest price of $1.4791 whereas the lowest price it dropped to was $1.2901. The 52-week range on WATT shows that it touched its highest point at $2.78 and its lowest point at $0.82 during that stretch. It currently has a 1-year price target of $2.25. Beta for the stock currently stands at 2.73.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of WATT was up-trending over the past week, with a rise of 31.48%, but this was up by 50.74% over a month. Three-month performance surged to 37.86% while six-month performance rose 17.36%. The stock lost -42.97% in the past year, while it has gained 13.60% so far this year. A look at the trailing 12-month EPS for WATT yields -0.60 with Next year EPS estimates of -0.30. For the next quarter, that number is -0.08. This implies an EPS growth rate of 16.50% for this year and 12.90% for next year.
Float and Shares Shorts:
At present, 76.93 million WATT shares are outstanding with a float of 75.75 million shares on hand for trading. On Jul 14, 2022, short shares totaled 3.92 million, which was 5.08% higher than short shares on Jun 14, 2022. In addition to Mr. Cesar Johnston as the firm’s Chief Exec. Officer, Mr. William T. Mannina serves as its Acting Chief Financial Officer.
Through their ownership of 8.91% of WATT’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 8.52% of WATT, in contrast to 5.04% held by mutual funds. Shares owned by individuals account for 3.82%. As the largest shareholder in WATT with 3.80% of the stake, The Vanguard Group, Inc. holds 2,927,810 shares worth 2,927,810. A second-largest stockholder of WATT, BlackRock Fund Advisors, holds 881,460 shares, controlling over 1.14% of the firm’s shares. Susquehanna Financial Group LLLP is the third largest shareholder in WATT, holding 719,780 shares or 0.93% stake. With a 2.51% stake in WATT, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 1,931,682 shares are owned by the mutual fund manager. The Vanguard Extended Market Index Fu, which owns about 1.20% of WATT stock, is the second-largest Mutual Fund holder. It holds 926,993 shares valued at 0.93 million. Fidelity Extended Market Index Fu holds 0.49% of the stake in WATT, owning 380,453 shares worth 0.38 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for WATT since 2 analysts follow the stock currently. There are 2 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With WATT analysts setting a high price target of $3.00 and a low target of $1.50, the average target price over the next 12 months is $2.25. Based on these targets, WATT could surge 111.27% to reach the target high and rise by 5.63% to reach the target low. Reaching the average price target will result in a growth of 58.45% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. WATT will report FY 2022 earnings on 03/01/2023. Analysts have provided yearly estimates in a range of -$0.37 being high and -$0.38 being low. For WATT, this leads to a yearly average estimate of -$0.38. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Energous Corporation surprised analysts by $0.03 when it reported -$0.09 EPS against a consensus estimate of -$0.12. The surprise factor in the prior quarter was -$0.02. Based on analyst estimates, the high estimate for the next quarter is -$0.09 and the low estimate is -$0.09. The average estimate for the next quarter is thus -$0.09.
Summary of Insider Activity:
Insiders traded WATT stock several times over the past three months with 1 Buys and 2 Sells. In these transactions, 90,000 shares were bought while 15,650 shares were sold. The number of buy transactions has increased to 16 while that of sell transactions has risen to 23 over the past year. The total number of shares bought during that period was 1,039,177 while 508,667 shares were sold.