Energous (NASDAQ: WATT) Receives Notice from Nasdaq for Minimum Bid Price Non-Compliance
SAN JOSE, CA - Energous Corporation, a pioneer in radio frequency-based charging solutions, was recently notified by Nasdaq about its failure to meet the minimum bid price requirement. The company's stock closed below $1.00 for 30 consecutive days, violating Nasdaq's Listing Rule 5550(a)(2).
Energous has until February 25, 2025, to regain compliance by maintaining a closing bid price of at least $1.00 for ten consecutive days. Failure to do so could lead to a second 180-day period for compliance.
Despite this issue, Energous continues to trade on The Nasdaq Capital Market under the symbol "WATT." The company is actively monitoring its stock price and exploring options to address the deficiency.
In addition to this news, Energous recently achieved FCC certification for its PowerBridge transmitter system and secured orders from a major retailer. The company also formed strategic partnerships to enhance the adoption of its wireless power solutions.
Analyzing Energous Corporation's financial health, InvestingPro data shows a small market capitalization of $5.97 million and declining revenue. While analysts forecast sales growth, the stock has experienced significant volatility and a notable decline in the past year.
For a more detailed analysis of Energous Corporation, visit InvestingPro for additional insights into the company's financial position and market performance.
In conclusion, investors should be cautious due to Energous's current non-compliance issue and the volatile nature of its stock. Understanding the company's financial trajectory and market performance is crucial for making informed investment decisions.