Wireless charging solutions company Energous (NASDAQ:WATT) has had several positive developments, but losses widened 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. This approval complements similar unlimited distance wireless charging authorization in Europe, announced in May 2021.
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. Also, it is currently trading 74.4% below its 52-week high of $7.69, which it hit on February 19, 2021. In addition, it is currently trading below its 50-day and 200-day moving averages of $2.13 and $2.57, respectively, indicating that it is in a downtrend.
Here’s what could shape WATT’s performance in the upcoming months: