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.
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