WidePoint (NYSEAMERICAN:WYY) Shares Pass Below 50-Day Moving Average – Here’s Why

WidePoint Corporation (NYSEAMERICAN:WYY) shares passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $5.69 and traded as low as $4.30. WidePoint shares last traded at $4.43, with a volume of 20,864 shares changing hands.

WidePoint Trading Up 0.7%

The company’s 50-day moving average is $5.66 and its 200 day moving average is $5.82. The stock has a market capitalization of $44.11 million, a PE ratio of -18.58 and a beta of 1.46.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. XTX Topco Ltd purchased a new position in shares of WidePoint in the second quarter worth about $58,000. NewEdge Advisors LLC acquired a new position in WidePoint in the 2nd quarter worth approximately $74,000. Ritholtz Wealth Management acquired a new position in WidePoint in the 4th quarter worth approximately $79,000. Jane Street Group LLC purchased a new position in WidePoint during the 2nd quarter worth approximately $87,000. Finally, State Street Corp raised its position in WidePoint by 9.7% during the 4th quarter. State Street Corp now owns 27,153 shares of the technology company’s stock worth $146,000 after buying an additional 2,400 shares during the last quarter. 22.60% of the stock is owned by institutional investors and hedge funds.

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.