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Energous (WATT) & Velociti Partner to Deploy Wireless Solution
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Energous Corporation (WATT - Free Report) recently joined forces with Velociti Inc. to accelerate the deployment of its wireless power network technology. The company named Velociti as its preferred system integration partner and global value-added reseller for its wireless charging solutions.
Energous’ shares fell 2.9% yesterday to eventually close the trading session at $1.65.
Based in Missouri, Velociti is engaged in deploying cutting-edge enterprise technology solutions to several types of businesses, thereby providing technology providers with expansion opportunities into lucrative end markets. The company’s technology installation and deployment services have been used by businesses of all sizes across the world, including several Fortune 500 companies.
Inside the Headlines
Energous’ wireless charging solutions facilitate the charging of IoT devices without the requirement for wires and disposable batteries. WATT’s wireless charging solutions boast advanced certified proprietary technology and a solid IP portfolio with more than 250 patents. Notably, the company’s charging solutions are used by businesses across retail, healthcare and industrial markets.
The latest partnership is expected to expand the reach of WATT’s RF-based intelligent wireless power network solution across several global end markets, including retail, logistics, healthcare and warehousing applications.
The company’s wireless charging solution, including 1W and 2W PowerBridge transmitter systems and Wiliot IoT Pixel tags, has already been installed at Velociti’s Innovation Lab in Riverside, MO, to demonstrate the use of advanced technology across multiple end-markets.
Other Notable Partnerships
Energous remains focused on strategic collaborations with other companies to boost and expand its product offerings. WATT’s collaboration with LIXIL is aimed at developing a joint solution that removes the need for battery maintenance via reliable and consistent power delivered wirelessly over the air. The company has also partnered with SATO Holdings for developing next-generation smart-store applications.
Image Source: Zacks Investment Research
In the past six months, the Zacks Rank #3 (Hold) company’s shares have decreased 0.6% against the industry’s growth of 25.9%.
The company’s focus on developing advanced technology solutions and efforts to expand its customer base through collaborations should foster growth. However, high operating costs and expenses pose a threat to its bottom line.
Stocks to Consider
Some better-ranked companies from the same space are discussed below.
The Zacks Consensus Estimate for POWL’s fiscal 2024 (ending September 2024) earnings has increased 44.1% in the past 60 days. Shares of Powell Industries have soared 89.6% in the past six months.
Zurn Elkay Water Solutions Corporation (ZWS - Free Report) presently flaunts a Zacks Rank #1. ZWS delivered a trailing four-quarter average earnings surprise of 12.4%. In the past 60 days, the Zacks Consensus Estimate for its 2024 earnings has increased 3.6%. Shares of the company have risen 16.9% in the past six months.
Eaton Corporation plc (ETN - Free Report) presently carries a Zacks Rank #2 (Buy). ETN delivered a trailing four-quarter average earnings surprise of 4.8%. In the past 60 days, the Zacks Consensus Estimate for Eaton’s 2024 earnings has increased 2.4%. The stock has increased 43.8% in the past six months.
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Energous (WATT) & Velociti Partner to Deploy Wireless Solution
Energous Corporation (WATT - Free Report) recently joined forces with Velociti Inc. to accelerate the deployment of its wireless power network technology. The company named Velociti as its preferred system integration partner and global value-added reseller for its wireless charging solutions.
Energous’ shares fell 2.9% yesterday to eventually close the trading session at $1.65.
Based in Missouri, Velociti is engaged in deploying cutting-edge enterprise technology solutions to several types of businesses, thereby providing technology providers with expansion opportunities into lucrative end markets. The company’s technology installation and deployment services have been used by businesses of all sizes across the world, including several Fortune 500 companies.
Inside the Headlines
Energous’ wireless charging solutions facilitate the charging of IoT devices without the requirement for wires and disposable batteries. WATT’s wireless charging solutions boast advanced certified proprietary technology and a solid IP portfolio with more than 250 patents. Notably, the company’s charging solutions are used by businesses across retail, healthcare and industrial markets.
The latest partnership is expected to expand the reach of WATT’s RF-based intelligent wireless power network solution across several global end markets, including retail, logistics, healthcare and warehousing applications.
The company’s wireless charging solution, including 1W and 2W PowerBridge transmitter systems and Wiliot IoT Pixel tags, has already been installed at Velociti’s Innovation Lab in Riverside, MO, to demonstrate the use of advanced technology across multiple end-markets.
Other Notable Partnerships
Energous remains focused on strategic collaborations with other companies to boost and expand its product offerings. WATT’s collaboration with LIXIL is aimed at developing a joint solution that removes the need for battery maintenance via reliable and consistent power delivered wirelessly over the air. The company has also partnered with SATO Holdings for developing next-generation smart-store applications.
Image Source: Zacks Investment Research
In the past six months, the Zacks Rank #3 (Hold) company’s shares have decreased 0.6% against the industry’s growth of 25.9%.
The company’s focus on developing advanced technology solutions and efforts to expand its customer base through collaborations should foster growth. However, high operating costs and expenses pose a threat to its bottom line.
Stocks to Consider
Some better-ranked companies from the same space are discussed below.
Powell Industries, Inc. (POWL - Free Report) presently sports a Zacks Rank #1 (Strong Buy) and has a trailing four-quarter earnings surprise of 77.6%, on average. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for POWL’s fiscal 2024 (ending September 2024) earnings has increased 44.1% in the past 60 days. Shares of Powell Industries have soared 89.6% in the past six months.
Zurn Elkay Water Solutions Corporation (ZWS - Free Report) presently flaunts a Zacks Rank #1. ZWS delivered a trailing four-quarter average earnings surprise of 12.4%. In the past 60 days, the Zacks Consensus Estimate for its 2024 earnings has increased 3.6%. Shares of the company have risen 16.9% in the past six months.
Eaton Corporation plc (ETN - Free Report) presently carries a Zacks Rank #2 (Buy). ETN delivered a trailing four-quarter average earnings surprise of 4.8%. In the past 60 days, the Zacks Consensus Estimate for Eaton’s 2024 earnings has increased 2.4%. The stock has increased 43.8% in the past six months.