WidePoint Corporation (NYSEAMERICAN:WYY) Short Interest Up 119.5% in May

WidePoint Corporation (NYSEAMERICAN:WYY) was the recipient of a large growth in short interest in the month of May. As of May 29th, there was short interest totaling 170,975 shares, a growth of 119.5% from the May 14th total of 77,894 shares. Based on an average trading volume of 171,916 shares, the days-to-cover ratio is presently 1.0 days. Currently, 2.1% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

WYY has been the topic of several recent research reports. HC Wainwright reaffirmed a “buy” rating and set a $9.00 price objective on shares of WidePoint in a research report on Monday, March 30th. Zacks Research raised shares of WidePoint from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 28th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, WidePoint presently has an average rating of “Moderate Buy” and an average price target of $8.67.

Insider Buying and Selling

In other WidePoint news, CFO Robert J. George sold 10,000 shares of the firm’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $10.59, for a total transaction of $105,900.00. Following the completion of the sale, the chief financial officer directly owned 54,493 shares in the company, valued at approximately $577,080.87. This trade represents a 15.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 16.10% of the company’s stock.

Hedge Funds Weigh In On WidePoint

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted 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 buying an additional 8,850 shares during the last quarter. Potomac Capital Management Inc. bought a new position in WidePoint during the fourth quarter worth $1,051,000. Renaissance Technologies LLC increased its position in 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. Informed Momentum Co LLC bought a new position in WidePoint during the fourth quarter worth $527,000. Finally, Geode Capital Management LLC increased its position in 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 during the period. Institutional investors and hedge funds own 22.60% of the company’s stock.

WidePoint Stock Down 2.9%

WYY traded down $0.36 during midday trading on Friday, hitting $11.91. 169,751 shares of the company’s stock traded hands, compared to its average volume of 151,002. The company has a market cap of $117.79 million, a PE ratio of -59.55 and a beta of 1.80. The stock’s fifty day simple moving average is $8.11 and its 200-day simple moving average is $6.57. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.04 and a quick ratio of 1.04. WidePoint has a one year low of $2.80 and a one year high of $13.08.

WidePoint (NYSEAMERICAN:WYY) last announced its quarterly earnings results on Thursday, May 14th. The technology company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.12) by $0.13. WidePoint had a negative return on equity of 16.24% and a negative net margin of 1.24%.The company had revenue of $40.58 million for the quarter, compared to the consensus estimate of $37.87 million. As a group, equities analysts anticipate that WidePoint will post -0.06 earnings per share for the current fiscal 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.