WidePoint Corporation (NYSEAMERICAN:WYY – Get Free Report)’s share price crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $4.91 and traded as high as $9.32. WidePoint shares last traded at $8.85, with a volume of 403,488 shares.
Wall Street Analysts Forecast Growth
A number of research firms have commented on WYY. Zacks Research lowered WidePoint from a “hold” rating to a “strong sell” rating in a research note on Monday, March 30th. HC Wainwright restated a “buy” rating and set a $9.00 price objective on shares of WidePoint in a research note on Monday, March 30th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $8.67.
Check Out Our Latest Stock Analysis on WidePoint
WidePoint Trading Up 29.0%
WidePoint (NYSEAMERICAN:WYY – Get Free Report) last posted its quarterly earnings data on Wednesday, March 25th. The technology company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.08). WidePoint had a negative return on equity of 22.35% and a negative net margin of 1.83%.The company had revenue of $42.32 million for the quarter, compared to the consensus estimate of $40.28 million. Equities analysts anticipate that WidePoint Corporation will post -0.08 earnings per share for the current year.
Hedge Funds Weigh In On WidePoint
Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of WidePoint by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 376,513 shares of the technology company’s stock valued at $1,862,000 after purchasing an additional 8,850 shares during the last quarter. Potomac Capital Management Inc. bought a new position in shares of WidePoint in the 4th quarter valued at $1,051,000. Renaissance Technologies LLC increased its stake in shares of WidePoint by 3.0% in the 4th quarter. Renaissance Technologies LLC now owns 132,098 shares of the technology company’s stock valued at $709,000 after purchasing an additional 3,898 shares during the last quarter. Informed Momentum Co LLC bought a new position in shares of WidePoint in the 4th quarter valued at $527,000. Finally, Geode Capital Management LLC increased its stake in shares of WidePoint by 4.5% in the 4th quarter. Geode Capital Management LLC now owns 85,777 shares of the technology company’s stock valued at $461,000 after purchasing an additional 3,675 shares during the last quarter. Institutional investors 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.
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