WidePoint Corporation (NYSEAMERICAN:WYY) Short Interest Update

WidePoint Corporation (NYSEAMERICAN:WYY) was the target of a large growth in short interest during the month of January. As of January 15th, there was short interest totaling 22,305 shares, a growth of 107.6% from the December 31st total of 10,746 shares. Currently, 0.3% of the shares of the company are short sold. Based on an average trading volume of 36,645 shares, the days-to-cover ratio is presently 0.6 days. Based on an average trading volume of 36,645 shares, the days-to-cover ratio is presently 0.6 days. Currently, 0.3% of the shares of the company are short sold.

WidePoint Price Performance

WYY opened at $6.59 on Friday. The firm has a market capitalization of $65.18 million, a price-to-earnings ratio of -27.46 and a beta of 1.34. The company’s 50 day simple moving average is $6.42 and its two-hundred day simple moving average is $5.52. WidePoint has a 1-year low of $2.19 and a 1-year high of $7.55.

WidePoint (NYSEAMERICAN:WYY) last released 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). The firm had revenue of $36.13 million for the quarter, compared to analyst estimates of $39.64 million. WidePoint had a negative return on equity of 17.61% and a negative net margin of 1.55%. On average, equities analysts anticipate that WidePoint will post -0.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On WidePoint

A number of hedge funds have recently modified their holdings of the business. Bridgeway Capital Management LLC lifted 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 valued at $207,000 after buying an additional 28,269 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of WidePoint in the 2nd quarter valued at $87,000. NewEdge Advisors LLC acquired a new position in shares of WidePoint in the 2nd quarter valued at $74,000. Cassaday & Co Wealth Management LLC purchased a new stake in WidePoint in the 2nd quarter valued at $60,000. Finally, XTX Topco Ltd acquired a new stake in WidePoint during the 2nd quarter worth $58,000. 22.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on WYY shares. HC Wainwright reaffirmed a “buy” rating and set a $9.00 price target (up previously from $7.00) on shares of WidePoint in a report on Friday, October 31st. Westpark Capital restated a “buy” rating and set a $9.00 target price on shares of WidePoint in a research note on Tuesday, October 7th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, WidePoint has a consensus rating of “Buy” and an average 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.