WidePoint (NYSEAMERICAN:WYY) Posts Earnings Results, Misses Estimates By $0.03 EPS

WidePoint (NYSEAMERICAN:WYY) issued its quarterly earnings results on Thursday. The technology company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.03), FiscalAI reports. The firm had revenue of $38.00 million for the quarter, compared to analysts’ expectations of $41.83 million. WidePoint had a negative net margin of 1.24% and a negative return on equity of 16.24%.

WidePoint Stock Performance

WidePoint stock traded up $0.14 during mid-day trading on Thursday, reaching $11.63. The company’s stock had a trading volume of 84,613 shares, compared to its average volume of 160,159. The firm’s fifty day moving average price is $12.76 and its two-hundred day moving average price is $8.57. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.04 and a current ratio of 1.04. WidePoint has a 12-month low of $3.25 and a 12-month high of $24.30. The company has a market capitalization of $115.02 million, a P/E ratio of -58.15 and a beta of 1.77.

Wall Street Analyst Weigh In

Separately, Zacks Research upgraded WidePoint from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $8.67.

Insiders Place Their Bets

In other WidePoint news, COO Todd Dzyak sold 5,000 shares of WidePoint stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $12.75, for a total transaction of $63,750.00. Following the completion of the transaction, the chief operating officer owned 110,436 shares of the company’s stock, valued at $1,408,059. The trade was a 4.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Robert J. George sold 16,882 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $16.16, for a total transaction of $272,813.12. Following the completion of the transaction, the chief financial officer owned 19,842 shares of the company’s stock, valued at $320,646.72. This trade represents a 45.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 82,745 shares of company stock worth $1,355,144 over the last 90 days. Corporate insiders own 16.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. XTX Topco Ltd bought a new position in shares of WidePoint in the second quarter worth $58,000. NewEdge Advisors LLC bought a new stake in WidePoint during the second quarter valued at $74,000. Jane Street Group LLC purchased a new position in WidePoint during the second quarter worth about $87,000. Bridgeway Capital Management LLC grew its position in WidePoint by 87.6% during the second quarter. Bridgeway Capital Management LLC now owns 60,527 shares of the technology company’s stock worth $207,000 after buying an additional 28,269 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in WidePoint by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 376,513 shares of the technology company’s stock worth $1,862,000 after acquiring an additional 8,850 shares during the last quarter. 22.60% of the stock is currently owned by hedge funds and other institutional investors.

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.