With the current price of $3.68, the stock of Energous Corporation (NASDAQ:WATT) concluded the trading session seeing its price drop by -0.21 points or at a loss of -5.4% compared to its previous day’s closing price of $3.89. About 1.074 million shares of the stock changed hands on the day. The trading volume of WATT’s shares during the past session compares with the stock’s average daily trading volume of 2.463 million shares. On the other hand, a float of 38.87 million shares and a weekly performance of -1.08% make the stock worth to keep an eye on. Analysts are in agreement on an annual target price of $6 for WATT’s share which suggests that the stock, price of which is currently buoying between $3.62 and $3.87, has a potential to gain 63.04%. But still, there are some analysts recommending a price below the agreed average price and one of them has given a target price of $5 to the stock.
The latest data released on August 14, 2020 shows that the short float in the Energous Corporation’s stock is trending downward as short interest in WATT shares turned down leaving more number of shares available to public for trading. Number of shares shorted in the WATT is currently comprised of 7.61% of the float as the volume of shorted shares declined by -327458 shares. Over the past two weeks, stock’s short interests improved as number of shorted shares reduced to 2.632 million shares from the previous figure of 2.96 million shares. Stock’s average intraday volume is now standing at 1.178 million shares which indicate that the days to cover the shorts are nearly 2.235267.
After concluding the day’s trading, price of Energous Corporation (NASDAQ:WATT) is down -$0.04 over the week and it is $0.52 above 20-day average price. The highest price touched by the stock on the day was lower than 52-week high price of $4.58 that was attained on 08/19/20.
The stock has traded as low as $0.61 in past 52-week, and its current price is 503.28% above from that 52-week low price mark recorded on 04/03/20, which is an indicator that could increase the investors’ motivation level in taking advantage of price surge the stock has currently been going through. Stock currently has its beta at 4.02. A beta value of more than 1 represents higher volatility of a stock than that of the market and for the reason investors closely watch the behavior of such stock.
Current indicators are pointing at 57.05 as 14-days RSI of Energous Corporation. This means that the WATT is currently in a neutral territory and its share’s price movement is likely to be steady for a while. Similarly, the stochastic oscillator is indicating a momentum of 46.38%, implying stock’s share price is buoying in a neutral state.
Technical chart is showing 1st resistance point of $3.83 for the WATT’s share while placing it at a 2nd resistance point of $3.97 to be settled at. But if the stock takes a plunge lower than the 1st support price of $3.58 then its market would become weakened. And that would likely sliding the stock price down to 2nd support price level of $3.47.
MACD oscillator is showing a reading of 0.04 for the stock which means that it is currently in the green zone. Any movement above or below the zero level of the indicator has always being noticed by the investors as it makes them compare the stock’s average measure in short-term with that in the long-term. An MACD evaluation of more than zero means that stock has a stronger short-term average than long-term average, which implies that stock’s price is likely to climb up. But an MACD below zero indicates weaker short-term average compare to the long-term average.
Ladenburg Thalmann lifted its recommendation for WATT stock from Neutral to Buy in a review note dated May 01, and moved the price target up at $6.5. The stock gets its recommendation downgraded from Buy to Neutral from the analysts at Ladenburg Thalmann in their October 31 note to investors.Ladenburg Thalmann analysts reiterated their recommendation of Buy rating for the stock on January 03 while suggesting a price target of $32 which previously was $20.
The average rating of 1.5 for WATT is placing the stock in bullish category at the moment. In a poll by Reuters including 2 analysts in it who kept tracking the Energous Corporation, 0 rated the stock as hold. Others were in different opinions for the WATT. Out of remaining 2 analysts, 2 rated the stock as a buy or strong buy. 0 were in favor of a sell rating for the stock while advising investors to shun the stock if they already have any or otherwise not to buy it.
A quick look at other side of the picture shows that WATT stock is lagging behind current price-to-sales (P/S) ratio of 0 is at the rear of industry’s average P/S ratio of 49.2. A comparison of Energous Corporation’s trailing 12-months P/E ratio of 7.5 implies that it is trading above the industry’s average P/E ratio, which currently is 4.
Projection by Zacks Consensus Estimates suggests that Energous Corporation (NASDAQ:WATT) will see its current-quarter revenues rise by nearly 39.86% to be increased to about $160 million. Full-year revenue of the company is however forecasted to be increased by nearly 250% to bring $700 million in revenues against last year revenue of $200 million. Earnings, after adjustments, are likely to fell by -44.44% to post an EPS of -$0.15, while estimate for company’s full year earnings is -$0.62 per share with a growth rate of -51.18%.