WidePoint (NYSEAMERICAN:WYY) Stock Price Passes Below 50-Day Moving Average – Here’s Why

WidePoint Corporation (NYSEAMERICAN:WYY)’s share price crossed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $3.69 and traded as low as $3.05. WidePoint shares last traded at $3.06, with a volume of 53,284 shares trading hands.

Wall Street Analysts Forecast Growth

WYY has been the subject of several research analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $7.00 target price on shares of WidePoint in a research report on Friday, May 16th. Wall Street Zen initiated coverage on WidePoint in a research report on Tuesday, May 20th. They set a “hold” rating for the company.

WidePoint Trading Up 0.3%

The firm has a fifty day moving average of $3.69 and a two-hundred day moving average of $3.90. The company has a market cap of $29.93 million, a PE ratio of -14.57 and a beta of 1.60.

Insider Buying and Selling

In other WidePoint news, CFO Robert J. George sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $3.21, for a total value of $25,680.00. Following the completion of the transaction, the chief financial officer now owns 72,452 shares in the company, valued at $232,570.92. This trade represents a 9.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders sold 11,000 shares of company stock valued at $35,790. 15.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Truvestments Capital LLC boosted its position in shares of WidePoint by 7.6% during the 1st quarter. Truvestments Capital LLC now owns 41,389 shares of the technology company’s stock valued at $138,000 after acquiring an additional 2,916 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of WidePoint by 4.9% during the 4th quarter. Geode Capital Management LLC now owns 74,990 shares of the technology company’s stock valued at $363,000 after acquiring an additional 3,497 shares during the last quarter. Essex Investment Management Co. LLC boosted its position in shares of WidePoint by 9.9% during the 4th quarter. Essex Investment Management Co. LLC now owns 50,699 shares of the technology company’s stock valued at $245,000 after acquiring an additional 4,547 shares during the last quarter. Private Advisor Group LLC boosted its position in shares of WidePoint by 29.2% during the 4th quarter. Private Advisor Group LLC now owns 31,000 shares of the technology company’s stock valued at $150,000 after acquiring an additional 7,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of WidePoint by 9.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 81,372 shares of the technology company’s stock valued at $394,000 after acquiring an additional 7,331 shares during the last quarter. Institutional investors own 22.60% of the company’s stock.

WidePoint Company Profile

WidePoint Corporation provides technology management as a service (TMaaS) to the government and business enterprises in North America and Europe. It offers TMaaS solutions through a secure federal government certified proprietary portal and secure enterprise portal that provides ability to manage, analyze, and protect communications assets, as well as deploys identity management solutions that provides secured virtual and physical access to restricted environments.