Roth Capital Thinks Energous’ Stock is Going to Recover

In a report released yesterday, Roth Capital from Roth Capital maintained a Buy rating on Energous (WATTResearch Report), with a price target of $4.00. The company’s shares closed last Friday at $2.52, close to its 52-week low of $1.71.

Energous has an analyst consensus of Moderate Buy, with a price target consensus of $4.00.

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Based on Energous’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $145.1K and GAAP net loss of $8.53 million. In comparison, last year the company earned revenue of $61.48K and had a GAAP net loss of $8.6 million.

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Energous Corp. engages in the development of technology that enables wireless charging for electronic devices. It focuses on the 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. The company was founded by Michael Aaron Leabman on October 30, 2012 and is headquartered in San Jose, CA.