Energous Shares Surge 11% as Wireless Power Name Hits Another Hurdle
Energous shares closed up 11.03% at $25.27 Wednesday, valuing the company at about $139 million. First-quarter revenue jumped to $3.08 million from $343,000 a year earlier, but net loss narrowed only to $1.66 million. Two customers accounted for 83% of revenue. The company ended March with $36.6 million in cash.