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

by · The Markets Daily

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

Insider Transactions at WidePoint

In other WidePoint news, COO Todd Dzyak sold 10,000 shares of the firm’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $24.00, for a total transaction of $240,000.00. Following the sale, the chief operating officer directly owned 115,436 shares of the company’s stock, valued at $2,770,464. This trade represents a 7.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Robert J. George sold 16,882 shares of WidePoint stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $16.16, for a total transaction of $272,813.12. Following the sale, the chief financial officer owned 19,842 shares of the company’s stock, valued at approximately $320,646.72. This trade represents a 45.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 62,745 shares of company stock worth $1,056,944. 16.10% of the stock is owned by insiders.

Institutional Trading of WidePoint

Institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada raised its position in shares of WidePoint by 19,130.8% in the 1st quarter. Royal Bank of Canada now owns 5,000 shares of the technology company’s stock worth $25,000 after buying an additional 4,974 shares during the period. PNC Financial Services Group Inc. purchased a new stake in WidePoint during the first quarter valued at about $50,000. Ritholtz Wealth Management acquired a new stake in WidePoint during the fourth quarter worth about $79,000. XTX Topco Ltd acquired a new stake in WidePoint during the second quarter worth about $58,000. Finally, Cassaday & Co Wealth Management LLC purchased a new position in shares of WidePoint in the 1st quarter worth about $87,000. 22.60% of the stock is owned by hedge funds and other institutional investors.

WidePoint Stock Performance

WYY remained flat at $15.92 during midday trading on Friday. The company’s stock had a trading volume of 295,347 shares, compared to its average volume of 571,684. WidePoint has a 52 week low of $2.80 and a 52 week high of $24.30. The firm has a 50-day simple moving average of $11.02 and a 200-day simple moving average of $7.44. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $157.45 million, a price-to-earnings ratio of -79.60 and a beta of 1.71.

WidePoint (NYSEAMERICAN:WYYGet Free Report) last released its earnings results on Thursday, May 14th. The technology company reported $0.01 earnings per share (EPS) for the quarter, topping 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 business had revenue of $40.58 million for the quarter, compared to analysts’ expectations of $37.87 million. On average, equities analysts expect that WidePoint will post 0.04 EPS for the current year.

Analysts Set New Price Targets

Several analysts have commented on WYY shares. Zacks Research raised shares of WidePoint from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. HC Wainwright reissued a “buy” rating and set a $9.00 price target on shares of WidePoint in a research note on Monday, March 30th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company’s stock. According to MarketBeat.com, WidePoint has an average rating of “Buy” and an average target price of $8.67.

Read Our Latest Research Report on WidePoint

About WidePoint

(Get Free Report)

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.

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