WidePoint Corporation (NYSEAMERICAN:WYY) Sees Large Decline in Short Interest

WidePoint Corporation (NYSEAMERICAN:WYY) was the recipient of a significant decrease in short interest in the month of December. As of December 31st, there was short interest totaling 10,746 shares, a decrease of 30.6% from the December 15th total of 15,486 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average trading volume of 45,062 shares, the days-to-cover ratio is currently 0.2 days. Based on an average trading volume of 45,062 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.1% of the shares of the company are sold short.

Analyst Ratings Changes

WYY has been the topic of a number of recent research reports. HC Wainwright reiterated a “buy” rating and issued a $9.00 target price (up from $7.00) on shares of WidePoint in a research note on Friday, October 31st. Westpark Capital reaffirmed a “buy” rating and issued a $9.00 price objective on shares of WidePoint in a report on Tuesday, October 7th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $8.67.

WidePoint Price Performance

NYSEAMERICAN:WYY traded up $0.34 during midday trading on Friday, reaching $7.18. The stock had a trading volume of 83,275 shares, compared to its average volume of 38,609. The stock has a market capitalization of $71.01 million, a P/E ratio of -29.92 and a beta of 1.34. WidePoint has a 1-year low of $2.19 and a 1-year high of $7.55. The firm’s fifty day simple moving average is $6.31 and its 200-day simple moving average is $5.27.

WidePoint (NYSEAMERICAN:WYY) last released its quarterly earnings results on Thursday, November 13th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). WidePoint had a negative net margin of 1.55% and a negative return on equity of 17.61%. The firm had revenue of $36.13 million for the quarter, compared to the consensus estimate of $39.64 million. On average, equities research analysts anticipate that WidePoint will post -0.26 earnings per share for the current fiscal year.

Institutional Trading of WidePoint

A number of hedge funds have recently bought and sold shares of WYY. XTX Topco Ltd acquired a new stake in shares of WidePoint during the 2nd quarter valued at about $58,000. Cassaday & Co Wealth Management LLC bought a new position in WidePoint during the second quarter worth about $60,000. NewEdge Advisors LLC acquired a new stake in WidePoint during the second quarter valued at approximately $74,000. Jane Street Group LLC bought a new stake in shares of WidePoint in the 2nd quarter valued at approximately $87,000. Finally, Bridgeway Capital Management LLC grew its stake in shares of WidePoint by 87.6% in the 2nd quarter. Bridgeway Capital Management LLC now owns 60,527 shares of the technology company’s stock valued at $207,000 after purchasing an additional 28,269 shares during the period. 22.60% of the stock is owned by institutional investors.

About WidePoint

WidePoint Corporation (NYSE American: WYY) is a provider of secure mobility management and identity management solutions. Headquartered in Reston, Virginia, the company delivers a range of managed services designed to help organizations control and secure their telecommunications and IT environments. Since its inception in the late 1990s, WidePoint has focused on helping businesses and government agencies optimize their mobile device portfolios and ensure regulatory compliance.

WidePoint’s core offerings include mobile device management, telecom expense management, and unified endpoint security.