WidePoint (NYSEAMERICAN:WYY) Stock Price Crosses Above 50 Day Moving Average – Time to Sell?

WidePoint Corporation (NYSEAMERICAN:WYY)’s stock price crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $5.56 and traded as high as $9.44. WidePoint shares last traded at $8.98, with a volume of 398,209 shares traded.

Analyst Upgrades and Downgrades

Several research firms have recently commented on WYY. HC Wainwright reissued a “buy” rating and set a $9.00 target price on shares of WidePoint in a research report on Monday, March 30th. Zacks Research downgraded shares of WidePoint from a “hold” rating to a “strong sell” rating in a research report on Monday, March 30th. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $8.67.

WidePoint Trading Up 14.7%

The stock’s 50-day moving average price is $5.67 and its two-hundred day moving average price is $5.97. The stock has a market capitalization of $101.66 million, a P/E ratio of -51.50 and a beta of 1.59.

WidePoint (NYSEAMERICAN:WYY) last released its quarterly earnings data on Wednesday, March 25th. The technology company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.08). The business had revenue of $42.32 million during the quarter, compared to the consensus estimate of $40.28 million. WidePoint had a negative return on equity of 16.13% and a negative net margin of 1.24%. On average, equities research analysts predict that WidePoint Corporation will post -0.08 earnings per share for the current year.

Institutional Trading of WidePoint

Several institutional investors and hedge funds have recently bought and sold shares of the company. PNC Financial Services Group Inc. purchased a new stake in WidePoint in the 1st quarter worth approximately $50,000. Cassaday & Co Wealth Management LLC purchased a new stake in WidePoint in the 1st quarter worth approximately $87,000. NewEdge Advisors LLC lifted its stake in WidePoint by 194.5% in the 4th quarter. NewEdge Advisors LLC now owns 46,028 shares of the technology company’s stock worth $247,000 after purchasing an additional 30,397 shares in the last quarter. State Street Corp lifted its stake in WidePoint by 9.7% in the 4th quarter. State Street Corp now owns 27,153 shares of the technology company’s stock worth $146,000 after purchasing an additional 2,400 shares in the last quarter. Finally, Jane Street Group LLC lifted its stake in WidePoint by 98.6% in the 4th quarter. Jane Street Group LLC now owns 52,751 shares of the technology company’s stock worth $283,000 after purchasing an additional 26,193 shares in the last quarter. 22.60% of the stock is currently owned by hedge funds and other institutional investors.

WidePoint Company Profile

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.