WidePoint Co. (NYSEAMERICAN:WYY) Short Interest Down 24.9% in December

WidePoint Co. (NYSEAMERICAN:WYY) was the target of a significant drop in short interest during the month of December. As of December 31st, there was short interest totalling 51,200 shares, a drop of 24.9% from the December 15th total of 68,200 shares. Approximately 0.7% of the shares of the stock are sold short. Based on an average trading volume of 109,100 shares, the short-interest ratio is presently 0.5 days.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $7.00 target price on shares of WidePoint in a research report on Thursday, November 14th.

WidePoint Stock Performance

WYY traded up $0.01 during trading on Wednesday, hitting $3.55. The stock had a trading volume of 80,189 shares, compared to its average volume of 65,999. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.07 and a quick ratio of 1.07. WidePoint has a 12 month low of $1.83 and a 12 month high of $6.25. The company has a market capitalization of $34.79 million, a PE ratio of -11.45 and a beta of 1.72.

Institutional Trading of WidePoint

An institutional investor recently raised its position in WidePoint stock. Essex Investment Management Co. LLC grew its stake in WidePoint Co. (NYSEAMERICAN:WYY) by 46.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,152 shares of the technology company’s stock after acquiring an additional 14,582 shares during the quarter. Essex Investment Management Co. LLC owned 0.48% of WidePoint worth $163,000 at the end of the most recent quarter. Institutional investors own 22.60% of the company’s stock.

WidePoint Company Profile

WidePoint Corporation provides technology management as a service (TMaaS) to the government and business enterprises in North America and Europe. It offers TMaaS solutions through a secure federal government certified proprietary portal and secure enterprise portal that provides ability to manage, analyze, and protect communications assets, as well as deploys identity management solutions that provides secured virtual and physical access to restricted environments.