National Securities Corp Maintains Their Buy Rating on Energous (WATT)


National Securities Corp analyst Ilya Grozovsky maintained a Buy rating on Energous (NASDAQ: WATT) on August 2 and set a price target of $35. The company’s shares closed on Friday at $13.89.

According to TipRanks.com, Grozovsky is a 4-star analyst with an average return of 7.7% and a 58.0% success rate. Grozovsky covers the Technology sector, focusing on stocks such as Digital Turbine Inc, Mitek Systems Inc, and Datawatch Corp.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Energous with a $29.75 average price target, which is an 114.2% upside from current levels. In a report issued on August 2, Roth Capital also reiterated a Buy rating on the stock with a $24.50 price target.

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Based on Energous’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $12.3 million. In comparison, last year the company had a GAAP net loss of $12.92 million.

Based on the recent corporate insider activity of 50 insiders, corporate insider sentiment is negative on the stock.

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Energous Corp. engages in the development of technology that enables wireless charging for electronic devices. It focuses on their product, WattUp, a wire-free charging technology that will transform the way consumers and industries charge and power electronic devices at home, in the office and car.

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