Short Interest in WidePoint Co. (NYSEAMERICAN:WYY) Declines By 71.0%

WidePoint Co. (NYSEAMERICAN:WYY) was the recipient of a significant decline in short interest during the month of May. As of May 31st, there was short interest totalling 42,300 shares, a decline of 71.0% from the May 15th total of 145,900 shares. Based on an average daily trading volume, of 106,400 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.5% of the shares of the stock are short sold.

WidePoint Trading Down 0.3%

Shares of WYY opened at $3.30 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.27. The stock has a 50 day simple moving average of $3.65 and a 200-day simple moving average of $3.91. WidePoint has a 1 year low of $2.19 and a 1 year high of $6.25. The stock has a market cap of $32.34 million, a PE ratio of -10.64 and a beta of 1.70.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on WYY. HC Wainwright reiterated a “buy” rating and issued a $7.00 price objective on shares of WidePoint in a report on Friday, May 16th. Wall Street Zen started coverage on shares of WidePoint in a research note on Tuesday, May 20th. They set a “hold” rating on the stock.

Insiders Place Their Bets

In other WidePoint news, CFO Robert J. George sold 8,000 shares of WidePoint stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $3.21, for a total transaction of $25,680.00. Following the transaction, the chief financial officer now directly owns 72,452 shares in the company, valued at approximately $232,570.92. The trade was a 9.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 14.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On WidePoint

Several institutional investors have recently added to or reduced their stakes in the company. Jane Street Group LLC acquired a new stake in WidePoint during the 4th quarter valued at $101,000. Private Advisor Group LLC raised its position in shares of WidePoint by 29.2% during the fourth quarter. Private Advisor Group LLC now owns 31,000 shares of the technology company’s stock worth $150,000 after acquiring an additional 7,000 shares during the last quarter. Dimensional Fund Advisors LP increased its position in WidePoint by 9.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 81,372 shares of the technology company’s stock worth $394,000 after purchasing an additional 7,331 shares during the period. Renaissance Technologies LLC raised its position in shares of WidePoint by 121.6% during the 4th quarter. Renaissance Technologies LLC now owns 184,400 shares of the technology company’s stock valued at $892,000 after acquiring an additional 101,176 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in WidePoint by 4.9% in the fourth quarter. Geode Capital Management LLC now owns 74,990 shares of the technology company’s stock valued at $363,000 after buying an additional 3,497 shares during the period. 22.60% of the stock is owned by institutional investors.

WidePoint Company Profile

WidePoint Corporation provides technology management as a service (TMaaS) to the government and business enterprises in North America and Europe. It offers TMaaS solutions through a secure federal government certified proprietary portal and secure enterprise portal that provides ability to manage, analyze, and protect communications assets, as well as deploys identity management solutions that provides secured virtual and physical access to restricted environments.