WidePoint (NYSEAMERICAN:WYY) Releases Earnings Results, Misses Estimates By $0.07 EPS

WidePoint (NYSEAMERICAN:WYY) announced its earnings results on Wednesday. The technology company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.07), FiscalAI reports. WidePoint had a negative return on equity of 17.61% and a negative net margin of 1.55%.The company had revenue of $42.32 million for the quarter, compared to analyst estimates of $40.28 million.

WidePoint Stock Up 2.7%

NYSEAMERICAN:WYY traded up $0.14 during trading hours on Wednesday, hitting $5.39. 26,823 shares of the stock were exchanged, compared to its average volume of 37,688. The company has a market capitalization of $53.31 million, a P/E ratio of -22.46 and a beta of 1.46. The company’s 50 day moving average is $5.49 and its two-hundred day moving average is $5.85. WidePoint has a twelve month low of $2.19 and a twelve month high of $7.55.

Institutional Investors Weigh In On WidePoint

A number of institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp lifted its stake 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 buying an additional 2,400 shares during the period. Geode Capital Management LLC grew its position in shares of WidePoint by 4.5% during the 4th quarter. Geode Capital Management LLC now owns 85,777 shares of the technology company’s stock worth $461,000 after buying an additional 3,675 shares during the period. Renaissance Technologies LLC increased its stake in shares of WidePoint by 3.0% in the 4th quarter. Renaissance Technologies LLC now owns 132,098 shares of the technology company’s stock valued at $709,000 after acquiring an additional 3,898 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of WidePoint by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 376,513 shares of the technology company’s stock valued at $1,862,000 after acquiring an additional 8,850 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of WidePoint in the 2nd quarter valued at approximately $58,000. 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.