|Written by GSCR Staff|
|Thursday, 08 December 2016 06:55|
In Monday’s Goldman Guide we suggested that everyone enjoy the holiday season and take a collective chill from the hot and heavy political season. After all, people have more in common with each other regardless of political affiliation. We also hypothesized that we have strong conviction that NASDAQ stocks in the tech sector could finally start catching up in the ‘Trump’ rally.
Below is the one year performance for Energous Corporation (NASDAQ – WATT - $17.22) which illustrates the stock has had a great climb of 270% since a bottom in the $4 range in February of this year. Additionally, the chart demonstrates that the stock is well above the technical metric of the 200-day EMA of $13.31 on this momentum run.
WATT, 1-Year 200-Day EMA
Energous is a Silicon Valley firm and has serious potential for growth with its product pipeline. Energous Corporation engages in the development of a wire-free charging system. Its technology could enable wire-free charging of electronic devices at a distance. The Company is developing WattUp, a wire-free charging technology that charges electronic devices by surrounding them with a contained three-dimensional radio frequency energy pocket. Energous Corporation was founded in 2012 and is headquartered in San Jose, California.
Energous is still in the development stages which means many of its fundamental metrics like EPS are still in the red. On a positive note the Company has $25 million cash on hand at the end of the 3Q16 and a book value per share of 1.26. The strength of WATT is the technology potential that could transform the way consumers and industries charge and power electronic devices at home, in the office, in the car and beyond. The lead product, WattUp, is a radio frequency (RF) based charging solution that delivers intelligent, scalable power via radio bands, similar to a Wi-Fi router. This would truly be revolutionary and could pay off in a huge way.
We believe WATT is a strong play on the lagging NASDAQ and an innovative Company for 2017. We like the $20 level by mid 2Q next year.
Have a great day! Yesterday was the 75th anniversary of the Japanese surprise attack on Pearl Harbor in Hawaii. Thank a WWII vet for being ‘the greatest generation’ while you still can as they are sadly almost all gone.
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