WidePoint Corporation (NYSEAMERICAN:WYY) Short Interest Up 82.9% in June

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on WYY shares. HC Wainwright restated a “buy” rating and set a $9.00 price objective on shares of WidePoint in a research report on Monday, March 30th. Zacks Research raised shares of WidePoint from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $8.67.

Insider Activity

In other news, COO Todd Dzyak sold 10,000 shares of WidePoint stock in a transaction 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 transaction, the chief operating officer owned 115,436 shares in the company, valued at approximately $2,770,464. The trade was a 7.97% decrease in their ownership of the stock. The sale 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 WidePoint stock in a transaction on Monday, June 29th. The stock was sold at an average price of $16.16, for a total transaction of $272,813.12. Following the transaction, the chief financial officer owned 19,842 shares in the company, valued at approximately $320,646.72. This trade represents a 45.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 82,745 shares of company stock valued at $1,355,144. Insiders own 16.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in WidePoint by 2.4% in 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. Potomac Capital Management Inc. acquired a new position in shares of WidePoint during the fourth quarter valued at about $1,051,000. Renaissance Technologies LLC boosted its position in shares of WidePoint by 3.0% during the 4th 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 in the last quarter. Informed Momentum Co LLC bought a new position in shares of WidePoint during the 4th quarter worth about $527,000. Finally, Geode Capital Management LLC grew its stake in shares of WidePoint by 4.5% in the 4th quarter. Geode Capital Management LLC now owns 85,777 shares of the technology company’s stock valued at $461,000 after buying an additional 3,675 shares during the period. 22.60% of the stock is owned by institutional investors.

WidePoint Trading Down 4.6%

NYSEAMERICAN WYY opened at $11.66 on Friday. The stock has a market capitalization of $115.32 million, a P/E ratio of -58.30 and a beta of 1.71. The business has a 50 day simple moving average of $12.50 and a 200 day simple moving average of $7.99. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.04 and a quick ratio of 1.04. WidePoint has a one year low of $2.80 and a one year high of $24.30.

WidePoint (NYSEAMERICAN:WYY) last issued its quarterly earnings results on Thursday, May 14th. The technology company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.13. The firm had revenue of $40.58 million for the quarter, compared to analyst estimates of $37.87 million. WidePoint had a negative return on equity of 16.24% and a negative net margin of 1.24%. Research analysts expect that WidePoint will post 0.04 earnings per share for the current 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.