Energous Corp (WATT) Stake Lifted by Hood River Capital Management LLC
Hood River Capital Management LLC grew its position in shares of Energous Corp (NASDAQ:WATT) by 29.0% in the fourth quarter, HoldingsChannel reports. The firm owned 1,649,853 shares of the industrial products company’s stock after purchasing an additional 371,144 shares during the period. Energous comprises approximately 1.9% of Hood River Capital Management LLC’s holdings, making the stock its 15th biggest position. Hood River Capital Management LLC owned 0.07% of Energous worth $32,090,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Robecosam AG bought a new stake in shares of Energous during the 2nd quarter worth $1,645,000. Vanguard Group Inc. lifted its holdings in shares of Energous by 12.0% during the 2nd quarter. Vanguard Group Inc. now owns 708,654 shares of the industrial products company’s stock worth $11,523,000 after acquiring an additional 75,862 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Energous by 27.8% during the 2nd quarter. Northern Trust Corp now owns 215,155 shares of the industrial products company’s stock worth $3,498,000 after acquiring an additional 46,799 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Energous by 223.0% during the 3rd quarter. Wells Fargo & Company MN now owns 63,637 shares of the industrial products company’s stock worth $806,000 after acquiring an additional 43,937 shares during the last quarter. Finally, CenterStar Asset Management LLC bought a new stake in shares of Energous during the 4th quarter worth $921,000. Hedge funds and other institutional investors own 38.33% of the company’s stock.
Shares of Energous Corp (WATT) opened at $18.59 on Friday. Energous Corp has a fifty-two week low of $6.91 and a fifty-two week high of $33.50.
A number of analysts have recently issued reports on WATT shares. Ladenburg Thalmann Financial Services lifted their price objective on shares of Energous from $20.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, January 3rd. Roth Capital set a $45.80 price objective on shares of Energous and gave the stock a “buy” rating in a report on Thursday, December 28th. ValuEngine raised shares of Energous from a “sell” rating to a “hold” rating in a report on Friday, February 2nd. Finally, Zacks Investment Research raised shares of Energous from a “sell” rating to a “hold” rating in a report on Saturday, January 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. Energous currently has an average rating of “Hold” and a consensus price target of $30.93.
In other Energous news, CTO Michael Aaron Leabman sold 29,610 shares of the business’s stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $20.57, for a total value of $609,077.70. Following the completion of the sale, the chief technology officer now directly owns 152,279 shares of the company’s stock, valued at $3,132,379.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Stephen R. Rizzone sold 75,000 shares of the business’s stock in a transaction on Friday, December 29th. The stock was sold at an average price of $26.04, for a total transaction of $1,953,000.00. Following the completion of the sale, the chief executive officer now directly owns 253,609 shares of the company’s stock, valued at $6,603,978.36. The disclosure for this sale can be found here. Insiders sold 282,562 shares of company stock valued at $7,128,895 over the last three months. 6.30% of the stock is currently owned by insiders.
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Energous Corporation is engaged in developing a technology called WattUp that consists of semiconductor chipsets, software, hardware designs and antennas that can enable radio frequency (RF)-based wire-free charging for electronic devices, providing power at a distance and enabling charging with mobility under software control.
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