WidePoint (NYSEAMERICAN:WYY) Issues Earnings Results

WidePoint (NYSEAMERICAN:WYY) announced its quarterly earnings results on Wednesday. The technology company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.07), FiscalAI reports. 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 17.61% and a negative net margin of 1.55%.

WidePoint Trading Up 2.7%

Shares of NYSEAMERICAN:WYY traded up $0.14 during trading on Wednesday, hitting $5.39. 26,823 shares of the company’s stock traded hands, compared to its average volume of 37,688. The company has a 50-day moving average price of $5.49 and a 200-day moving average price of $5.85. WidePoint has a 52 week low of $2.19 and a 52 week high of $7.55. The company has a market cap of $53.31 million, a price-to-earnings ratio of -22.46 and a beta of 1.46.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of WYY. State Street Corp boosted its holdings in shares of WidePoint by 9.7% in the fourth quarter. State Street Corp now owns 27,153 shares of the technology company’s stock valued at $146,000 after buying an additional 2,400 shares during the period. Geode Capital Management LLC increased its position in shares of WidePoint by 4.5% during the fourth quarter. Geode Capital Management LLC now owns 85,777 shares of the technology company’s stock worth $461,000 after acquiring an additional 3,675 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of WidePoint by 3.0% during the fourth quarter. Renaissance Technologies LLC now owns 132,098 shares of the technology company’s stock worth $709,000 after acquiring an additional 3,898 shares during the period. Vanguard Group Inc. raised its holdings in shares of WidePoint by 2.4% during the third quarter. Vanguard Group Inc. now owns 376,513 shares of the technology company’s stock worth $1,862,000 after acquiring an additional 8,850 shares during the period. Finally, XTX Topco Ltd bought a new stake in WidePoint in the 2nd quarter valued at $58,000. Institutional investors own 22.60% of the company’s stock.

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.