WidePoint Corporation (NYSEAMERICAN:WYY) Short Interest Update

WidePoint Corporation (NYSEAMERICAN:WYY) was the target of a large drop in short interest during the month of December. As of December 31st, there was short interest totaling 10,746 shares, a drop of 30.6% from the December 15th total of 15,486 shares. Based on an average daily volume of 45,062 shares, the short-interest ratio is presently 0.2 days. Currently, 0.1% of the company’s stock are short sold. Currently, 0.1% of the company’s stock are short sold. Based on an average daily volume of 45,062 shares, the short-interest ratio is presently 0.2 days.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. HC Wainwright reissued a “buy” rating and set a $9.00 price objective (up from $7.00) on shares of WidePoint in a report on Friday, October 31st. Westpark Capital reissued a “buy” rating and set a $9.00 price target on shares of WidePoint in a report on Tuesday, October 7th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $8.67.

Institutional Trading of WidePoint

A number of hedge funds have recently modified their holdings of the stock. Bridgeway Capital Management LLC raised its position in WidePoint by 87.6% during the second quarter. Bridgeway Capital Management LLC now owns 60,527 shares of the technology company’s stock valued at $207,000 after acquiring an additional 28,269 shares in the last quarter. Summit Financial Strategies Inc. grew its stake in shares of WidePoint by 28.2% during the 2nd quarter. Summit Financial Strategies Inc. now owns 117,748 shares of the technology company’s stock worth $403,000 after purchasing an additional 25,932 shares during the period. Jane Street Group LLC purchased a new position in shares of WidePoint during the 2nd quarter valued at approximately $87,000. NewEdge Advisors LLC purchased a new position in shares of WidePoint during the 2nd quarter valued at approximately $74,000. Finally, Cassaday & Co Wealth Management LLC acquired a new position in shares of WidePoint in the 2nd quarter valued at $60,000. Hedge funds and other institutional investors own 22.60% of the company’s stock.

WidePoint Price Performance

NYSEAMERICAN:WYY traded up $0.34 during trading hours on Monday, hitting $7.18. 83,275 shares of the company were exchanged, compared to its average volume of 38,609. WidePoint has a 52-week low of $2.19 and a 52-week high of $7.55. The stock has a market capitalization of $71.01 million, a price-to-earnings ratio of -29.92 and a beta of 1.34. The company’s 50 day moving average price is $6.31 and its 200-day moving average price is $5.27.

WidePoint (NYSEAMERICAN:WYY) last announced its quarterly earnings data on Thursday, November 13th. The technology company reported ($0.06) earnings per share 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 during the quarter, compared to analyst estimates of $39.64 million. On average, equities analysts predict that WidePoint will post -0.26 earnings per share for the current year.

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.