Ladenburg Thalmann Upgrades Energous (WATT)
Fintel reports that on May 16, 2024, Ladenburg Thalmann upgraded their outlook for Energous (NasdaqCM:WATT) from Neutral to Buy.
Analyst Price Forecast Suggests 619.23% Upside
As of May 8, 2024, the average one-year price target for Energous is 11.22. The forecasts range from a low of 2.02 to a high of $21.00. The average price target represents an increase of 619.23% from its latest reported closing price of 1.56.
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The projected annual revenue for Energous is 26MM, an increase of 5,679.90%. The projected annual non-GAAP EPS is -0.17.
What is the Fund Sentiment?
There are 41 funds or institutions reporting positions in Energous. This is an increase of 34 owner(s) or 485.71% in the last quarter. Average portfolio weight of all funds dedicated to WATT is 0.00%, an increase of 2,418.75%. Total shares owned by institutions increased in the last three months by 4,775.46% to 481K shares.
What are Other Shareholders Doing?
Armistice Capital holds 282K shares representing 4.63% ownership of the company.
VEXMX - Vanguard Extended Market Index Fund Investor Shares holds 68K shares representing 1.13% ownership of the company. No change in the last quarter.
Geode Capital Management holds 45K shares representing 0.74% ownership of the company. In its prior filing, the firm reported owning 46K shares , representing a decrease of 2.52%. The firm decreased its portfolio allocation in WATT by 4.34% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 34K shares representing 0.56% ownership of the company. In its prior filing, the firm reported owning 68K shares , representing a decrease of 101.91%. The firm decreased its portfolio allocation in WATT by 49.38% over the last quarter.
FSMAX - Fidelity Extended Market Index Fund holds 26K shares representing 0.43% ownership of the company. In its prior filing, the firm reported owning 26K shares , representing a decrease of 0.74%. The firm decreased its portfolio allocation in WATT by 11.93% over the last quarter.
Energous Background Information
(This description is provided by the company.)
Energous Corporation is the global leader of Wireless Charging 2.0 technology. Its award-winning WattUp® solution is the only technology that supports both contact and distance charging through a fully compatible ecosystem. Built atop fast, efficient and highly scalable RF-based charging technology, WattUp is positioned to offer substantial improvements over older, first generation coil-based charging technologies in power, efficiency, foreign device detection, freedom of movement and overall cost for consumer electronics, medical devices, retail, military, industrial/commercial IoT, automotive, military, retail and industrial applications. Energous develops silicon-based wireless power transfer (WPT) technologies and customizable reference designs, and provides worldwide regulatory assistance, a reliable supply chain, quality assurance, and sales and technical support to global customers. The company received the world's first FCC Part 18 certification for at-a-distance wireless charging and has been awarded 231 patents for its WattUp wireless charging technology to-date.
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This story originally appeared on Fintel.