WidePoint Corporation (NYSEAMERICAN:WYY) Short Interest Up 201.9% in May

WidePoint Corporation (NYSEAMERICAN:WYY) was the target of a significant increase in short interest in May. As of May 15th, there was short interest totaling 77,894 shares, an increase of 201.9% from the April 30th total of 25,800 shares. Currently, 0.9% of the shares of the company are sold short. Based on an average trading volume of 243,042 shares, the short-interest ratio is presently 0.3 days.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on WYY shares. Zacks Research raised shares of WidePoint from a “strong sell” rating to a “hold” rating in a report on Thursday. HC Wainwright reaffirmed a “buy” rating and issued a $9.00 target price on shares of WidePoint in a report on Monday, March 30th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.67.

Institutional Trading of WidePoint

A number of institutional investors have recently added to or reduced their stakes in WYY. Royal Bank of Canada boosted its holdings in WidePoint by 19,130.8% during the first 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 in the last quarter. PNC Financial Services Group Inc. purchased a new stake in shares of WidePoint in the first quarter valued at about $50,000. XTX Topco Ltd purchased a new stake in shares of WidePoint in the second quarter valued at about $58,000. NewEdge Advisors LLC purchased a new stake in shares of WidePoint in the second quarter valued at about $74,000. Finally, Ritholtz Wealth Management purchased a new stake in shares of WidePoint in the fourth quarter valued at about $79,000. Hedge funds and other institutional investors own 22.60% of the company’s stock.

WidePoint Price Performance

WYY stock traded up $0.41 during trading on Friday, reaching $11.29. 253,358 shares of the company were exchanged, compared to its average volume of 198,356. The company has a market cap of $111.66 million, a P/E ratio of -56.45 and a beta of 1.59. WidePoint has a 52-week low of $2.80 and a 52-week high of $11.44. The stock’s 50 day moving average price is $6.81 and its 200 day moving average price is $6.21. 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 (NYSEAMERICAN:WYY) last released its quarterly earnings data on Thursday, May 14th. The technology company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates 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, analysts predict that WidePoint will post -0.06 earnings per share for the current fiscal 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.