WidePoint Corporation (NYSEAMERICAN:WYY) Sees Large Drop in Short Interest

WidePoint Corporation (NYSEAMERICAN:WYY) was the target of a significant drop in short interest in December. As of December 31st, there was short interest totaling 10,746 shares, a drop of 30.6% from the December 15th total of 15,486 shares. Based on an average daily trading volume, of 45,062 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.1% of the company’s stock are sold short. Currently, 0.1% of the company’s stock are sold short. Based on an average daily trading volume, of 45,062 shares, the days-to-cover ratio is presently 0.2 days.

WidePoint Price Performance

WYY traded up $0.34 on Friday, reaching $7.18. The company’s stock had a trading volume of 83,275 shares, compared to its average volume of 38,609. WidePoint has a 1 year low of $2.19 and a 1 year high of $7.55. The business’s 50 day moving average is $6.31 and its 200 day moving average is $5.25. The stock has a market cap of $71.01 million, a price-to-earnings ratio of -29.92 and a beta of 1.34.

WidePoint (NYSEAMERICAN:WYY) last posted its quarterly earnings data on Thursday, November 13th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.01). WidePoint had a negative return on equity of 17.61% and a negative net margin of 1.55%.The business had revenue of $36.13 million for the quarter, compared to analysts’ expectations of $39.64 million. As a group, research analysts forecast that WidePoint will post -0.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in WYY. XTX Topco Ltd acquired a new position in WidePoint during the 2nd quarter worth $58,000. Cassaday & Co Wealth Management LLC acquired a new stake in shares of WidePoint in the 2nd quarter valued at about $60,000. NewEdge Advisors LLC bought a new position in shares of WidePoint during the second quarter worth about $74,000. Jane Street Group LLC acquired a new position in WidePoint in the second quarter worth about $87,000. Finally, Bridgeway Capital Management LLC grew its stake in WidePoint by 87.6% in the second quarter. Bridgeway Capital Management LLC now owns 60,527 shares of the technology company’s stock worth $207,000 after purchasing an additional 28,269 shares in the last quarter. 22.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

WYY has been the subject of a number of analyst reports. Westpark Capital restated a “buy” rating and issued a $9.00 price target on shares of WidePoint in a report on Tuesday, October 7th. HC Wainwright reissued a “buy” rating and set a $9.00 target price (up from $7.00) on shares of WidePoint in a research report on Friday, October 31st. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, WidePoint currently has an average rating of “Buy” and a consensus target price of $8.67.

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.