Roth MKM lowered the firm’s price target on Energous to $4 from $20 and keeps a Buy rating on the shares. The activity over the last several quarters reflects the company’s focus on smart IoT wireless power transfer applications, the analyst tells investors in a research note. Despite the recent management changes, Energous has already completed multiple POC to production, and the firm expects deployment phase opportunities next, Roth MKM added.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on WATT:
- Energous reports FY23 EPS ($4.15) vs. ($6.78) last year
- Energous Announces Major Leadership Changes and Strategy Shift
- Energous CEO Cesar Johnston no longer serving in that role
- Two new option listings and option delistings on February 26th
- WATT Earnings Report this Week: Is It a Buy, Ahead of Earnings?