Why Energous Stock Crashed by 33% on Wednesday
Radio-frequency wireless charging company Energous (NASDAQ: WATT) shorted out on Wednesday, as its stock lost 32.8% of its market capitalization through 1:55 p.m. ET.
Just one week ago, Energous had a bit of an earnings beat when its second-quarter losses of $0.06 per share edged out analyst forecasts for a $0.07 loss pro forma, and revenue grew 21% year over year.
That sounds pretty good, and indeed, Energous stock responded positively to the news at first, gaining 3% after earnings came out. Problem was, it couldn't hold on to those gains, and its stock has been sinking ever since.
Source Fool.com
Energous Corp. Stock
€0.16
-17.270%
With 13 Sell predictions and only 2 Buy predictions the community sentiment for Energous Corp. is rather negative.
On the other hand, the target price of 2 € is above the current price of 0.16 € for Energous Corp., so the potential is actually 1136.09%.
