Short Interest in WidePoint Corporation (NYSEAMERICAN:WYY) Declines By 16.7%

WidePoint Corporation (NYSEAMERICAN:WYY) was the recipient of a large decrease in short interest in the month of January. As of January 30th, there was short interest totaling 18,582 shares, a decrease of 16.7% from the January 15th total of 22,305 shares. Based on an average trading volume of 32,494 shares, the short-interest ratio is currently 0.6 days. Currently, 0.2% of the shares of the company are sold short. Currently, 0.2% of the shares of the company are sold short. Based on an average trading volume of 32,494 shares, the short-interest ratio is currently 0.6 days.

Analyst Ratings Changes

Separately, HC Wainwright reissued a “buy” rating and set a $9.00 target price (up previously from $7.00) on shares of WidePoint in a report on Friday, October 31st. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat, WidePoint presently has an average rating of “Buy” and an average target price of $8.67.

WidePoint Stock Up 1.2%

Shares of NYSEAMERICAN:WYY traded up $0.06 during trading on Monday, hitting $4.93. 67,423 shares of the company traded hands, compared to its average volume of 34,284. The stock has a market capitalization of $48.76 million, a price-to-earnings ratio of -20.54 and a beta of 1.39. The business’s fifty day moving average is $6.20 and its 200-day moving average is $5.71. WidePoint has a one year low of $2.19 and a one year high of $7.55.

WidePoint (NYSEAMERICAN:WYY) last posted its earnings results on Thursday, November 13th. The technology company reported ($0.06) EPS for the quarter, missing the consensus estimate 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 business had revenue of $36.13 million during the quarter, compared to analyst estimates of $39.64 million. On average, analysts forecast that WidePoint will post -0.26 EPS for the current year.

Hedge Funds Weigh In On WidePoint

Several large investors have recently added to or reduced their stakes in the company. XTX Topco Ltd bought a new stake in shares of WidePoint during the second quarter valued at approximately $58,000. Cassaday & Co Wealth Management LLC bought a new position in shares of WidePoint during the 2nd quarter worth about $60,000. NewEdge Advisors LLC acquired a new stake in shares of WidePoint during the 2nd quarter valued at about $74,000. Ritholtz Wealth Management acquired a new stake in shares of WidePoint during the fourth quarter worth approximately $79,000. Finally, Jane Street Group LLC bought a new position in WidePoint in the 2nd quarter valued at $87,000. Institutional investors and hedge funds 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.