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Energous Corporation (NASDAQ:WATT), a pioneer in wireless charging technology with a market capitalization of just $8.1 million, has seen its stock plummet to a 52-week low, trading at just $0.26. According to InvestingPro analysis, the company’s financial health score stands at a concerning 0.94, labeled as WEAK. This latest price level reflects a significant downturn for the company, which has experienced an alarming 1-year change with its stock value eroding by -86.06%. The stock’s high volatility, evidenced by a beta of 2.41, has contributed to investor uncertainty. While investors remain wary as the company grapples with market challenges and competitive pressures, InvestingPro data shows a projected revenue growth of 10.07% for FY2025, offering a potential bright spot amid the current turbulence. For deeper insights, investors can access comprehensive analysis and 18 additional ProTips through the detailed Pro Research Report available on InvestingPro.
In other recent news, Energous Corporation has successfully raised $13.4 million through its at-the-market equity offering program, which is expected to support the company’s operational and growth needs. The company has expanded its common stock sales capacity, allowing for up to $80 million in additional shares, aligning with its strategic growth objectives. Energous has also withdrawn its Regulation A Offering Statement, having not closed on any sales under it, indicating a shift towards maximizing shareholder value through other financial strategies. In a related development, Energous has regained compliance with Nasdaq’s minimum stockholders’ equity requirement, following a previous notification of non-compliance. This compliance was confirmed by Nasdaq based on disclosures in a recent report, securing Energous’ position on the exchange for now. The company has been advised to maintain compliance in future reports to avoid potential delisting. CEO and CFO Mallorie Burak expressed confidence in the company’s financial stability and growth prospects, citing anticipated increased orders from partnerships with multinational retail customers. These developments reflect Energous’ ongoing efforts to enhance its financial and operational standing.
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