WidePoint Corporation (NYSEAMERICAN:WYY) Stock Short Interest Report for October

WidePoint Corporation (NYSEAMERICAN:WYY – Get Free Report) was the target of a large drop in short interest in the month of October. As of October 15th, there was short interest totaling 230,684 shares, a drop of 44.5% from the September 30th total of 415,974 shares. Currently, 2.8% of the company’s stock are sold short. Based on an average daily trading volume, of 135,163 shares, the days-to-cover ratio is currently 1.7 days.

Analyst Upgrades and Downgrades

Separately, Zacks Research lowered shares of WidePoint from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 13th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $9.00.

Read Our Latest Stock Analysis on WidePoint

Institutional Trading of WidePoint

Several institutional investors and hedge funds have recently added to or reduced their stakes in WYY. Royal Bank of Canada boosted its position in shares of WidePoint by 19,130.8% in the first quarter. Royal Bank of Canada now owns 5,000 shares of the technology company’s stock valued at $25,000 after acquiring an additional 4,974 shares during the period. PNC Financial Services Group Inc. bought a new position in WidePoint during the first quarter worth $50,000. Finally, Cassaday & Co Wealth Management LLC acquired a new position in shares of WidePoint during the first quarter valued at about $87,000. 22.60% of the stock is owned by institutional investors.

WidePoint Stock Down 0.4%

WidePoint stock traded down $0.03 during mid-day trading on Friday, reaching $7.69. The company had a trading volume of 197,689 shares, compared to its average volume of 129,576. The company has a 50 day moving average of $8.79 and a 200-day moving average of $8.56. The firm has a market cap of $76.90 million, a price-to-earnings ratio of -59.15 and a beta of 1.84. WidePoint has a 52 week low of $3.96 and a 52 week high of $24.30.

WidePoint (NYSEAMERICAN:WYY – Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The technology company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.03). WidePoint had a negative return on equity of 10.74% and a negative net margin of 0.81%. The company had revenue of $38.00 million for the quarter, compared to analyst estimates of $41.83 million. On average, analysts predict that WidePoint will post 0.05 earnings per share for the current fiscal year.

WidePoint Company Profile

(Get Free Report)

WidePoint Corporation provides secure technology solutions for government agencies, regulated organizations and commercial enterprises. The company focuses on helping customers manage mobile communications, digital identities and cybersecurity requirements across distributed workforces and connected devices.

Its services include telecommunications expense management, managed mobility and wireless lifecycle management, identity assurance, credentialing, authentication and cybersecurity.

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