WidePoint Corporation (NYSEAMERICAN:WYY) Short Interest Update

WidePoint Corporation (NYSEAMERICAN:WYY) was the recipient of a large growth in short interest in June. As of June 15th, there was short interest totaling 289,753 shares, a growth of 69.5% from the May 31st total of 170,975 shares. Based on an average daily trading volume, of 139,596 shares, the days-to-cover ratio is currently 2.1 days. Approximately 3.5% of the company’s stock are short sold.

WidePoint Stock Performance

Shares of WYY opened at $15.92 on Friday. The firm has a 50-day moving average of $11.24 and a 200-day moving average of $7.50. WidePoint has a one year low of $2.80 and a one year high of $24.30. The company has a market cap of $157.45 million, a PE ratio of -79.60 and a beta of 1.71. 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 (NYSEAMERICAN:WYY) last released its quarterly earnings data on Thursday, May 14th. The technology company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.13. The company had revenue of $40.58 million for the quarter, compared to analyst estimates of $37.87 million. WidePoint had a negative net margin of 1.24% and a negative return on equity of 16.24%. As a group, equities analysts forecast that WidePoint will post 0.04 earnings per share for the current year.

Insider Activity

In other news, COO Todd Dzyak sold 10,000 shares of the stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $24.00, for a total transaction of $240,000.00. Following the completion of the transaction, the chief operating officer directly owned 115,436 shares in the company, valued at $2,770,464. This represents a 7.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Robert J. George sold 16,882 shares of the firm’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $16.16, for a total value of $272,813.12. Following the completion of the transaction, the chief financial officer owned 19,842 shares of the company’s stock, valued at $320,646.72. The trade was a 45.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 62,745 shares of company stock worth $1,056,944 over the last three months. Insiders own 16.10% of the company’s stock.

Hedge Funds Weigh In On WidePoint

A number of institutional investors have recently bought and sold shares of the business. Royal Bank of Canada increased its stake in shares of WidePoint by 19,130.8% during the first quarter. Royal Bank of Canada now owns 5,000 shares of the technology company’s stock worth $25,000 after purchasing an additional 4,974 shares during the period. PNC Financial Services Group Inc. bought a new stake in WidePoint in the 1st quarter valued at $50,000. XTX Topco Ltd acquired a new position in WidePoint in the 2nd quarter valued at $58,000. NewEdge Advisors LLC acquired a new position in WidePoint in the 2nd quarter valued at $74,000. Finally, Ritholtz Wealth Management bought a new position in WidePoint during the 4th quarter worth $79,000. Institutional investors and hedge funds own 22.60% of the company’s stock.

Wall Street Analyst Weigh In

WYY has been the subject of a number of analyst reports. HC Wainwright restated a “buy” rating and issued a $9.00 price target on shares of WidePoint in a research note on Monday, March 30th. Zacks Research upgraded WidePoint from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. Based on data from MarketBeat, WidePoint presently has an average rating of “Buy” and a consensus price target of $8.67.

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.