Energous Corporation (WATT) Plunges 16.62% on December 28

Energous Corporation (WATT) Plunges 16.62% on December 28

Energous Corporation (WATT) had a rough trading day for Friday December 28 as shares tumbled 16.62%, or a loss of $-1.17 per share, to close at $5.87. After opening the day at $6.90, shares of Energous Corporation traded as high as $7.25 and as low as $5.76. Volume was 7.15 million shares over 24,901 trades, against an average daily volume of n/a shares and a total float of 26.09 million.

As a result of the decline, Energous Corporation now has a market cap of $153.18 million. In the last year, shares of Energous Corporation have traded between a range of $33.50 and $4.41, and its 50-day SMA is currently $n/a and 200-day SMA is $n/a.

Energous Corp is a development stage technology company. It is developing a technology named WattUp, which will enable RF based wire free charging for electronic devices. The firm believes that its technology will be utilized in internet of things devices, smartphones, tablets, e-book readers, keyboards, mice, remote controls, rechargeable lights, cylindrical batteries and other devices with similar charging requirements. The firm’s business strategy is to become a supplier and licensor of its technology to companies who design, manufacture and market devices to consumers, military, industrial and other users.

Energous Corporation is based out of San Jose, CA and has some 68 employees. Its CEO is Stephen R. Rizzone.

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