Apple Rumors Spark Big Session for Energous Corp (Watt)

Energous Corp (NASDAQ:WATT) is soaring on speculation of a possible partnership with Apple Inc. (NASDAQ:AAPL)

Jan 29, 2016 at 2:27 PM
facebook X logo linkedin

It's been quite a roller-coaster week for tech stocks, amid mixed reactions to earnings from such high-profile names such as Facebook Inc (NASDAQ:FB) and, Inc. (NASDAQ:AMZN). Under-the-radar tech firm Energous Corp (NASDAQ:WATT) is set to end the week on a strong note, up 29.6% today at $6.17, amid speculation the company is partnering up with Apple Inc. (NASDAQ:AAPL) -- which unveiled its own quarterly earnings report last Tuesday -- to develop wireless charging technology.

This surge is much-needed for a stock that's still staring at a 34.3% year-over-year deficit. What's more, the shares' most recent rally attempts were quickly halted by their 320-day moving average. Today, meanwhile, it's the $7 region that's containing the stock's AAPL-induced pop -- an area that supported WATT in November and December 2015.

On the sentiment front, short interest jumped 16.4% in the latest reporting period, and now accounts for 11.4% of WATT's available float. This equates to 1.2 million shorted shares -- the highest amount on record.

Elsewhere on Wall Street, analysts are extremely optimistic about Energous Corp (NASDAQ:WATT). In fact, all four brokerages covering the stock believe it's a "strong buy," while the average 12-month price target of $16.40 towers well above the equity's March 10 annual high of $12 -- and is four cents shy of WATT's April 2014 all-time high.

Sign up now for Schaeffer's Market Recap to get all the day's big stock movers, must-know technical  levels, and top economic stories straight to your inbox.


Unlock Weekend Profits with Chris Prybal's Favorite Strategy Up +487.5% in 2024

With the markets going left, right, and sideways, you need to have a plan now more than ever. 

Expert Trader Chris Prybal is no stranger to volatility, and has mastered finding big stock rallies while other traders aren't looking over the weekend. Rallies that produced gains like +207% on RTX calls, +236% on MARA calls, and +238% on NET calls.

A few simple moves on Sunday at 7pm could be the “Secret Sauce” your portfolio needs to not just stay afloat, but make unprecedented gains in this turbulent market.

Don’t sit on the sidelines, beat the market with Chris Prybal's strategy. Join him now!




Rainmaker Ads CGI