WidePoint Corporation (NYSEAMERICAN:WYY) Short Interest Up 107.6% in January

WidePoint Corporation (NYSEAMERICAN:WYY) was the recipient of a large increase in short interest in January. As of January 15th, there was short interest totaling 22,305 shares, an increase of 107.6% from the December 31st total of 10,746 shares. Approximately 0.3% of the shares of the stock are sold short. Based on an average daily volume of 36,645 shares, the days-to-cover ratio is presently 0.6 days. Based on an average daily volume of 36,645 shares, the days-to-cover ratio is presently 0.6 days. Approximately 0.3% of the shares of the stock are sold short.

WidePoint Stock Performance

Shares of NYSEAMERICAN:WYY traded down $0.03 during mid-day trading on Friday, reaching $6.77. 2,120 shares of the company’s stock were exchanged, compared to its average volume of 33,976. WidePoint has a twelve month low of $2.19 and a twelve month high of $7.55. The firm has a market capitalization of $66.96 million, a price-to-earnings ratio of -28.23 and a beta of 1.34. The business’s fifty day moving average price is $6.42 and its 200-day moving average price is $5.48.

WidePoint (NYSEAMERICAN:WYY) last announced its earnings results on Thursday, November 13th. The technology company reported ($0.06) earnings per share (EPS) 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 company had revenue of $36.13 million for the quarter, compared to the consensus estimate of $39.64 million. Analysts predict that WidePoint will post -0.26 EPS for the current fiscal year.

Institutional Trading of WidePoint

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of WidePoint by 2.4% during the 3rd 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 in the last quarter. Bridgeway Capital Management LLC raised 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 acquiring an additional 28,269 shares during the period. Jane Street Group LLC bought a new position in WidePoint in the 2nd quarter worth about $87,000. NewEdge Advisors LLC purchased a new stake in WidePoint during the second quarter valued at about $74,000. Finally, Cassaday & Co Wealth Management LLC purchased a new stake in WidePoint during the 2nd quarter valued at about $60,000. Institutional investors and hedge funds own 22.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on WYY. Westpark Capital reaffirmed a “buy” rating and set a $9.00 target price on shares of WidePoint in a research note on Tuesday, October 7th. HC Wainwright reaffirmed a “buy” rating and issued a $9.00 target price (up previously from $7.00) on shares of WidePoint in a report on Friday, October 31st. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “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.