Concerns Diverting Active Stocks Direction: Energous (NASDAQ:WATT), Citigroup (NYSE:C)

Shares of Energous Corporation (NASDAQ:WATT) [Trend Analysis] runs in leading trade, it moving down -1.98% to traded at $14.35. The firm has price volatility of 8.62% for a week and 6.75% for a month. Energous Corporation (WATT) in partnership with Dialog Semiconductor plc (DE), a provider of highly integrated power management, AC/DC power conversion, solid state lighting (SSL) and Bluetooth® low energy (LE) technology, recently reported the availability of an application-specific integrated circuit (IC), RF-transmit chip.

“This new IC will be the backbone of our transmitter technology moving forward and our efforts to miniaturize and reduce costs for our consumers will allow WattUp transmitters to be included in-the-box with many consumer devices,” said Stephen R. Rizzone, president and CEO of Energous.

“By combining multiple discrete components present in our early reference designs into a single silicon chip, we can importantly reduce the cost and silicon footprint requirements of our transmitters while decreasing the bill of materials for our consumers.” Narrow down four to firm performance, its weekly performance was -17.33% and monthly performance was -18.35%. The stock price of WATT is moving down from its 20 days moving average with -15.60% and isolated negatively from 50 days moving average with -13.98%.

Citigroup Inc. (NYSE:C) [Trend Analysis] luring active investment momentum, shares a loss -0.07% to $56.57. Citigroup (C) declared that contracts that will accelerate the transformation of the U.S. mortgage business by effectively exiting servicing operations by the end of 2018. Citi has signed a definitive contract to sell its mortgage servicing rights, and the related servicing, on approximately 780,000 Fannie Mae and Freddie Mac loans of non-Citibank retail consumers with outstanding balances of approximately $97 billion to New Residential Mortgage LLC.

In addition, Citi has entered into a subservicing contract with Cenlar FSB for the remaining Citi-owned loans and certain other mortgage servicing rights not sold to NRZ.Citigroup expects these transactions to negatively impact pre-tax results by approximately $400 million, including a loss on sale and certain related transaction costs, in the first quarter of 2017. Excluding these items, these transactions are expected to have a minimal impact on operating revenues in 2017, with expense benefits beginning to accrue in 2018.

The total volume of 1.17 Million shares held in the session was surprisingly higher than its average volume of 22326.12 shares. EPS estimates indicating constrictive facts, the current year from sell-side analysts, Price to current year EPS stands at -12.50%, and looking further price to next year’s EPS is 13.74%. While take a short look on price to sales ratio, that was 2.80 and price to earnings ratio of 11.94 attracting passive investors.

 

About Richard Avery

He is a capital projects manager and process design engineer at a large-cap company. He has renowned MBA degree. Before joining SWR, he was a freelance writer for renounce tech websites. He is currently studying for CFP exam. Interests: Tech stocks, Economic Markets, Blue-chips.

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