Short Interest in WidePoint Corporation (NYSEAMERICAN:WYY) Expands By 82.9%

WidePoint Corporation (NYSEAMERICAN:WYY) was the target of a significant growth in short interest in June. As of June 30th, there was short interest totaling 529,962 shares, a growth of 82.9% from the June 15th total of 289,753 shares. Based on an average daily volume of 1,010,387 shares, the short-interest ratio is currently 0.5 days. Approximately 6.4% of the company’s stock are sold short.

WidePoint Stock Down 0.6%

Shares of WidePoint stock opened at $12.22 on Friday. The company has a 50-day simple moving average of $12.42 and a two-hundred day simple moving average of $7.97. The stock has a market capitalization of $120.86 million, a PE ratio of -61.10 and a beta of 1.71. WidePoint has a 52-week low of $2.80 and a 52-week high of $24.30. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.04 and a current ratio of 1.04.

WidePoint (NYSEAMERICAN:WYY) last posted its quarterly earnings results on Thursday, May 14th. The technology company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.13. The firm had revenue of $40.58 million for the quarter, compared to analysts’ expectations of $37.87 million. WidePoint had a negative net margin of 1.24% and a negative return on equity of 16.24%. On average, analysts anticipate that WidePoint will post 0.04 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Zacks Research raised WidePoint from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 1st. HC Wainwright restated a “buy” rating and set a $9.00 price target 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. According to MarketBeat.com, WidePoint has a consensus rating of “Buy” and an average price target of $8.67.

Insider Activity

In other news, COO Todd Dzyak sold 10,000 shares of WidePoint stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $24.00, for a total transaction of $240,000.00. Following the completion of the transaction, the chief operating officer directly owned 115,436 shares in the company, valued at approximately $2,770,464. This trade represents a 7.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Robert J. George sold 16,882 shares of the business’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 represents a 45.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 82,745 shares of company stock worth $1,355,144. Insiders own 16.10% of the company’s stock.

Institutional Trading of WidePoint

Several institutional investors have recently added to or reduced their stakes in WYY. XTX Topco Ltd bought a new stake in shares of WidePoint in the 2nd quarter worth $58,000. NewEdge Advisors LLC purchased a new position in shares of WidePoint in the second quarter worth $74,000. Jane Street Group LLC bought a new position in shares of WidePoint during the second quarter valued at $87,000. Bridgeway Capital Management LLC lifted its holdings in shares of WidePoint by 87.6% during the second quarter. Bridgeway Capital Management LLC now owns 60,527 shares of the technology company’s stock valued at $207,000 after purchasing an additional 28,269 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of WidePoint by 2.4% during the third 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 in the last quarter. 22.60% of the stock is currently owned by hedge funds and other institutional investors.

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.