WidePoint Corporation (NYSEAMERICAN:WYY) Short Interest Update

WidePoint Corporation (NYSEAMERICAN:WYY) saw a large growth in short interest in 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 company’s shares are sold short. Based on an average daily volume of 36,645 shares, the days-to-cover ratio is currently 0.6 days. Based on an average daily volume of 36,645 shares, the days-to-cover ratio is currently 0.6 days. Currently, 0.3% of the company’s shares are sold short.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of WYY. 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 worth $1,862,000 after purchasing an additional 8,850 shares during the period. Bridgeway Capital Management LLC lifted its stake in shares of WidePoint by 87.6% in the 2nd quarter. Bridgeway Capital Management LLC now owns 60,527 shares of the technology company’s stock worth $207,000 after acquiring an additional 28,269 shares during the period. Jane Street Group LLC acquired a new stake in shares of WidePoint in the 2nd quarter worth $87,000. NewEdge Advisors LLC purchased a new stake in shares of WidePoint in the second quarter valued at about $74,000. Finally, Cassaday & Co Wealth Management LLC purchased a new stake in WidePoint in the 2nd quarter valued at approximately $60,000. Institutional investors and hedge funds own 22.60% of the company’s stock.

Wall Street Analysts Forecast Growth

WYY has been the subject of several research reports. Westpark Capital reiterated a “buy” rating and issued a $9.00 target price on shares of WidePoint in a report on Tuesday, October 7th. HC Wainwright reaffirmed a “buy” rating and issued a $9.00 price objective (up from $7.00) on shares of WidePoint in a research note on Friday, October 31st. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $8.67.

WidePoint Trading Down 3.1%

WidePoint stock opened at $6.59 on Friday. The company has a fifty day simple moving average of $6.42 and a 200-day simple moving average of $5.52. The stock has a market cap of $65.18 million, a P/E ratio of -27.46 and a beta of 1.34. WidePoint has a 12-month low of $2.19 and a 12-month high of $7.55.

WidePoint (NYSEAMERICAN:WYY) last posted its earnings results on Thursday, November 13th. The technology company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.01). WidePoint had a negative return on equity of 17.61% and a negative net margin of 1.55%.The business had revenue of $36.13 million for the quarter, compared to analysts’ expectations of $39.64 million. As a group, sell-side analysts forecast that WidePoint will post -0.26 earnings per share for the current fiscal year.

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.