Short Interest in WidePoint Corporation (NYSEAMERICAN:WYY) Grows By 69.5%

WidePoint Corporation (NYSEAMERICAN:WYY) saw a large growth in short interest in the month of June. As of June 15th, there was short interest totaling 289,753 shares, a growth of 69.5% from the May 31st total of 170,975 shares. Based on an average trading volume of 139,596 shares, the days-to-cover ratio is currently 2.1 days. Approximately 3.5% of the shares of the company are sold short.

WidePoint Price Performance

WidePoint stock traded down $0.56 during mid-day trading on Thursday, hitting $15.74. 266,759 shares of the company were exchanged, compared to its average volume of 156,499. The company has a market capitalization of $155.72 million, a PE ratio of -80.64 and a beta of 1.70. The business has a fifty day moving average of $10.80 and a 200 day moving average of $7.37. WidePoint has a 1-year low of $2.80 and a 1-year high of $24.30. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.32.

WidePoint (NYSEAMERICAN:WYY) last issued its earnings results on Thursday, May 14th. The technology company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.12) by $0.13. WidePoint had a negative net margin of 1.24% and a negative return on equity of 16.24%. The company had revenue of $40.58 million for the quarter, compared to the consensus estimate of $37.87 million. As a group, sell-side analysts expect that WidePoint will post -0.06 earnings per share for the current year.

Insider Buying and Selling

In other news, COO Todd Dzyak sold 10,000 shares of WidePoint 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 owned 115,436 shares of the company’s stock, valued at approximately $2,770,464. This trade 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 business’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $16.16, for a total value of $272,813.12. Following the sale, the chief financial officer 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 disclosure for this sale is available in the SEC filing. Insiders sold a total of 62,745 shares of company stock valued at $1,056,944 in the last quarter. Corporate insiders own 16.10% of the company’s stock.

Institutional Trading of WidePoint

Several large investors have recently added to or reduced their stakes in the company. XTX Topco Ltd acquired a new stake in shares of WidePoint during the second quarter worth approximately $58,000. NewEdge Advisors LLC bought a new stake in WidePoint during the 2nd quarter worth approximately $74,000. Jane Street Group LLC acquired a new stake in WidePoint during the 2nd quarter valued at $87,000. Bridgeway Capital Management LLC increased its holdings in WidePoint by 87.6% during the 2nd 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. raised its position in WidePoint by 2.4% in the 3rd 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 during the last quarter. 22.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

WYY has been the topic of several analyst reports. HC Wainwright reissued a “buy” rating and issued a $9.00 price target on shares of WidePoint in a report on Monday, March 30th. Zacks Research upgraded shares of WidePoint from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 28th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, WidePoint has an average rating of “Moderate Buy” and an average target price of $8.67.

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.