National Securities Corp analyst Ilya Grozovsky maintained a Buy rating on Energous (NASDAQ: WATT) today and set a price target of $35. The company’s shares closed yesterday at $8.79, close to its 52-week low of $6.91.
According to TipRanks.com, Grozovsky is a 2-star analyst with an average return of 0.7% and a 41.2% success rate. Grozovsky covers the Technology sector, focusing on stocks such as Digital Turbine Inc, Mitek Systems Inc, and Digimarc Corp.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Energous with a $22.50 average 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 $12.75 million.
Based on the recent corporate insider activity of 45 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of WATT in relation to earlier this year. Last month, Stephen Rizzone, the CEO & President of WATT bought 200,141 shares for a total of $336,237.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
