WidePoint Corporation (NYSEAMERICAN:WYY) Short Interest Up 119.5% in May

WidePoint Corporation (NYSEAMERICAN:WYY) saw a significant increase in short interest in the month of May. As of May 29th, there was short interest totaling 170,975 shares, an increase of 119.5% from the May 14th total of 77,894 shares. Approximately 2.1% of the shares of the company are sold short. Based on an average daily volume of 171,916 shares, the short-interest ratio is presently 1.0 days.

Insiders Place Their Bets

In related news, CFO Robert J. George sold 10,000 shares of the stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $10.59, for a total transaction of $105,900.00. Following the transaction, the chief financial officer owned 54,493 shares in the company, valued at $577,080.87. This represents a 15.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 16.10% of the stock is currently owned by company insiders.

Institutional Trading of WidePoint

Institutional investors and hedge funds have recently modified their holdings of the company. Potomac Capital Management Inc. bought a new stake in shares of WidePoint during the 4th quarter valued at $1,051,000. Ritholtz Wealth Management bought a new stake in shares of WidePoint during the 4th quarter valued at $79,000. Jane Street Group LLC raised its position in shares of WidePoint by 98.6% during the 4th quarter. Jane Street Group LLC now owns 52,751 shares of the technology company’s stock valued at $283,000 after purchasing an additional 26,193 shares during the period. NewEdge Advisors LLC raised its position in shares of WidePoint by 194.5% during the 4th quarter. NewEdge Advisors LLC now owns 46,028 shares of the technology company’s stock valued at $247,000 after purchasing an additional 30,397 shares during the period. Finally, Bridgeway Capital Management LLC raised its position in shares of 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 purchasing an additional 28,269 shares during the period. 22.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on WYY shares. HC Wainwright reiterated a “buy” rating and issued a $9.00 price target on shares of WidePoint in a research report on Monday, March 30th. Zacks Research upgraded shares of WidePoint from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 28th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, WidePoint has an average rating of “Moderate Buy” and a consensus target price of $8.67.

WidePoint Price Performance

WYY opened at $11.91 on Monday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.32. WidePoint has a 1-year low of $2.80 and a 1-year high of $13.08. The company has a market capitalization of $117.79 million, a PE ratio of -59.55 and a beta of 1.80. The firm’s 50 day simple moving average is $8.11 and its two-hundred day simple moving average is $6.57.

WidePoint (NYSEAMERICAN:WYY) last announced its quarterly earnings data on Thursday, May 14th. The technology company reported $0.01 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 the consensus estimate of $37.87 million. WidePoint had a negative net margin of 1.24% and a negative return on equity of 16.24%. As a group, equities analysts forecast that WidePoint will post -0.06 EPS 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.