Energous Corporation (WATT) Draws Bearish Attention After Forming Wedge Down Pattern

October 11, 2018 - By Ellis Scott

Energous Corporation (NASDAQ:WATT) Logo

Investors sentiment increased to 1.63 in 2018 Q2. Its up 0.10, from 1.53 in 2018Q1. It improved, as 14 investors sold Energous Corporation shares while 16 reduced holdings. 20 funds opened positions while 29 raised stakes. 6.01 million shares or 14.33% less from 7.01 million shares in 2018Q1 were reported.
State Board Of Administration Of Florida Retirement Sys holds 22,145 shares. Ls Investment Advisors Ltd Llc reported 0% of its portfolio in Energous Corporation (NASDAQ:WATT). Cambridge Invest Research invested 0% of its portfolio in Energous Corporation (NASDAQ:WATT). Natixis holds 0% or 24,957 shares in its portfolio. Doheny Asset Mngmt Ca stated it has 520,175 shares or 4.18% of all its holdings. California-based Reilly Advsr Ltd has invested 0% in Energous Corporation (NASDAQ:WATT). Hood River Management Limited Liability Com stated it has 0.12% in Energous Corporation (NASDAQ:WATT). Wells Fargo Mn reported 0% of its portfolio in Energous Corporation (NASDAQ:WATT). Northern Trust holds 0% or 255,893 shares. Glenmede Trust Na accumulated 10 shares. Pnc Fincl Ser Gp Inc reported 7,685 shares. Credit Suisse Ag invested 0% of its portfolio in Energous Corporation (NASDAQ:WATT). Jpmorgan Chase & Communication, New York-based fund reported 4,729 shares. Invesco holds 0% or 25,437 shares in its portfolio. Rhumbline Advisers holds 0% or 22,285 shares.

Since June 6, 2018, it had 0 buys, and 9 insider sales for $754,255 activity. Shares for $65,964 were sold by Gaulding John on Wednesday, June 13. Sahejpal Neeraj sold $80,313 worth of stock or 4,927 shares. Johnston Cesar sold 10,683 shares worth $134,448.

The stock of Energous Corporation (WATT) formed a down wedge with $8.56 target or 8.00 % below today’s $9.30 share price. The 6 months wedge indicates high risk for the $238.26 million company. If the $8.56 price target is reached, the company will be worth $19.06M less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

The stock increased 8.64% or $0.74 during the last trading session, reaching $9.3. About 563,073 shares traded or 15.01% up from the average. Energous Corporation (NASDAQ:WATT) has risen 3.30% since October 11, 2017 and is uptrending. It has underperformed by 12.32% the S&P500.

Analysts await Energous Corporation (NASDAQ:WATT) to report earnings on November, 14. They expect $-0.53 earnings per share, up 8.62 % or $0.05 from last year’s $-0.58 per share. After $-0.48 actual earnings per share reported by Energous Corporation for the previous quarter, Wall Street now forecasts 10.42 % negative EPS growth.

Another recent and important Energous Corporation (NASDAQ:WATT) news was published by Nasdaq.com which published an article titled: “Energous Corporation Chosen as a Select Partner to Demonstrate its Award-Winning WattUp Technology at the SK ICT …” on October 08, 2018.

Energous Corporation engages in the development of a wire-free charging system. The company has market cap of $238.26 million. The companyÂ’s technology could enable wire-free charging solutions for contact charging, as well as at a distance charging. It currently has negative earnings. It develops WattUp, a wire-free charging technology that charges electronic devices by surrounding them with a contained three dimensional radio frequency energy pocket.

Energous Corporation (NASDAQ:WATT) Institutional Positions Chart

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