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Is Energous Corp. a Good Penny Stock to Buy? -Breaking

by Mike Robinson

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© Reuters. Are Energous Corp. penny stocks worth buying?

Energous, a wireless charging company (NASDAQ:), has seen positive changes but lost profits grew in the second quarter. So, let’s find out if it is time to bet on this penny stock.Developer of WattUp, Energous Corporation (WATT), recently announced that its 900MHz 1W Active Energy Harvesting transmitter technology had received U.S. Federal Communications Commission (FCC) Part 15 grant of equipment authorization for wireless power transfer at any distance. The approval is in addition to a similar European authorization for unlimited wireless charging, which was announced May 20,21.

However, the stock has lost 8.4% over the past month and 50% over the past nine months to close yesterday’s trading session at $1.97. It is trading at 74.4% lower than its 52-week peak of $7.69 which was reached on February 19, 2021. It is also trading below its 200-day and 50-day moving averages, $2.13, and $2.57 respectively. This indicates that it is currently in a downtrend.

Here’s what could shape WATT’s performance in the upcoming months:

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