WidePoint Corporation (NYSEAMERICAN:WYY – Get Free Report) saw a significant increase in short interest in the month of June. As of June 30th, there was short interest totaling 529,962 shares, an increase of 82.9% from the June 15th total of 289,753 shares. Based on an average trading volume of 1,010,387 shares, the short-interest ratio is presently 0.5 days. Approximately 6.4% of the shares of the company are short sold.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on the company. Zacks Research upgraded WidePoint from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 1st. HC Wainwright reaffirmed a “buy” rating and issued a $9.00 price objective on shares of WidePoint in a report on Monday, March 30th. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company’s stock. According to MarketBeat.com, WidePoint currently has a consensus rating of “Buy” and a consensus target price of $8.67.
Read Our Latest Analysis on WidePoint
WidePoint Stock Performance
WidePoint (NYSEAMERICAN:WYY – Get Free Report) last announced its quarterly earnings results on Thursday, May 14th. The technology company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.13. The company had revenue of $40.58 million during the quarter, compared to analyst estimates of $37.87 million. WidePoint had a negative return on equity of 16.24% and a negative net margin of 1.24%. As a group, sell-side analysts expect that WidePoint will post 0.04 EPS for the current year.
Insider Activity
In other news, COO Todd Dzyak sold 10,000 shares of the stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $24.00, for a total transaction of $240,000.00. Following the sale, the chief operating officer directly owned 115,436 shares in the company, valued at approximately $2,770,464. This represents a 7.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Robert J. George sold 16,882 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $16.16, for a total value of $272,813.12. Following the completion of the sale, the chief financial officer directly owned 19,842 shares in the company, valued at approximately $320,646.72. This trade represents a 45.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 82,745 shares of company stock valued at $1,355,144. 16.10% of the stock is currently owned by insiders.
Hedge Funds Weigh In On WidePoint
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada increased its stake in WidePoint by 19,130.8% during the 1st quarter. Royal Bank of Canada now owns 5,000 shares of the technology company’s stock valued at $25,000 after buying an additional 4,974 shares during the period. PNC Financial Services Group Inc. acquired a new stake in shares of WidePoint in the 1st quarter worth approximately $50,000. Ritholtz Wealth Management bought a new position in shares of WidePoint in the fourth quarter valued at approximately $79,000. XTX Topco Ltd bought a new position in shares of WidePoint in the second quarter valued at approximately $58,000. Finally, Cassaday & Co Wealth Management LLC bought a new position in shares of WidePoint in the first quarter valued at approximately $87,000. Institutional investors own 22.60% of the company’s stock.
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.
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