Energous Corporation; Nasdaq: WATT
SNU first covered Energous Corporation in December when the U.S. Patent Office rejected a patent challenge. Today the shares, traded on the Nasdaq under WATT, have reached new all-time highs and the stock is up over 5%. Volumes are more than double the average.
Below is our original December 22, 2016 report:
Shares of Energous Corporation are up close to 10% on heavy volume. Energous Corporations trades on the Nasdaq under the ticker symbol WATT. Yesterday WATT closed at $17.48 but today’s morning trading has seen the shares trading as high as $19.28.
Energous Corporation is the developer of WattUp®—an award-winning, wire-free charging technology that Energous hopes will transform the way consumers and industries charge and power electronic devices at home, in the office, in the car and beyond. WattUp is a radio frequency (RF) based charging solution that delivers intelligent, scalable power via radio bands, similar to a Wi-Fi router. WattUp differs from other wireless charging systems in that it delivers power at a distance, to multiple devices – thus resulting in a wire-free experience that saves users from having to plug in their devices.
In November the U.S. Patent Office’s Trial and Appeal Board (PTAB) rejected a challenge to the Energous patent.
“Yesterday’s decision from the PTAB confirms our steadfast confidence in the strength of our intellectual property and strategy surrounding our WattUp technology,” said Stephen R. Rizzone, president and CEO of Energous. “As a licensing and semiconductor company, protecting and securing our patents is an important element of our goal of maintaining a dominant leadership position in the emerging market of wire-free power. We will continue to vigorously defend our intellectual property as we innovate and develop breakthrough wire-free charging technologies.”
Three firms follow Energous Corporation and all three give WATT shares a “Strong Buy” rating.
I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.
|Last Price a/o 10:52 AM EST||$ 20.04|
|Market Cap||$361 million|
|Shares Outstanding||18.85 million|
|Share Float||14.08 million|
|Short Interest Ratio||6.57|