WidePoint Corporation (NYSEAMERICAN:WYY) Short Interest Update

WidePoint Corporation (NYSEAMERICAN:WYY) was the recipient of a large increase in short interest in March. As of March 31st, there was short interest totaling 16,095 shares, an increase of 35.7% from the March 15th total of 11,865 shares. Currently, 0.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 41,148 shares, the days-to-cover ratio is currently 0.4 days.

WidePoint Stock Performance

Shares of WidePoint stock traded up $0.03 during trading hours on Friday, hitting $5.21. The company’s stock had a trading volume of 5,192 shares, compared to its average volume of 35,634. The stock has a market cap of $51.37 million, a price-to-earnings ratio of -17.95 and a beta of 1.45. The firm has a fifty day moving average of $4.86 and a 200-day moving average of $5.79. WidePoint has a twelve month low of $2.70 and a twelve month high of $7.55.

WidePoint (NYSEAMERICAN:WYY) last posted its quarterly earnings results on Wednesday, March 25th. The technology company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.08). The firm had revenue of $42.32 million for the quarter, compared to analyst estimates of $40.28 million. WidePoint had a negative return on equity of 22.35% and a negative net margin of 1.83%. On average, sell-side analysts expect that WidePoint will post -0.26 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on WYY. HC Wainwright restated a “buy” rating and issued a $9.00 price target on shares of WidePoint in a research report on Monday, March 30th. Zacks Research downgraded shares of WidePoint from a “hold” rating to a “strong sell” rating in a research note on Monday, March 30th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $8.67.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. NewEdge Advisors LLC increased its stake in WidePoint by 194.5% in the fourth quarter. NewEdge Advisors LLC now owns 46,028 shares of the technology company’s stock valued at $247,000 after purchasing an additional 30,397 shares during the period. State Street Corp boosted its holdings in WidePoint by 9.7% in the fourth quarter. State Street Corp now owns 27,153 shares of the technology company’s stock valued at $146,000 after acquiring an additional 2,400 shares during the last quarter. Jane Street Group LLC increased its position in WidePoint by 98.6% during the 4th quarter. Jane Street Group LLC now owns 52,751 shares of the technology company’s stock worth $283,000 after purchasing an additional 26,193 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in WidePoint by 3.0% in the fourth quarter. Renaissance Technologies LLC now owns 132,098 shares of the technology company’s stock worth $709,000 after purchasing an additional 3,898 shares during the period. Finally, Informed Momentum Co LLC bought a new position in shares of WidePoint in the 4th quarter worth about $527,000. Hedge funds and other 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.