Ladenburg analyst Jon Hickman downgraded Energous to Neutral from Buy with a price target of $2, down from $3.50. The firm says its confidence in the company’s ability to achieve significant adoption and become a major participant in the wireless charging market in the near term has waned post the Q4 report. The lack of any pick up in revenues in Q4 of last year and the sudden unexplained change in corporate leadership is worrisome, the analyst tells investors in a research note.
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Read More on WATT:
- Energous price target lowered to split-adjusted $4 from $20 at Roth MKM
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- Energous CEO Cesar Johnston no longer serving in that role
- Two new option listings and option delistings on February 26th
