WidePoint (NYSEAMERICAN:WYY) Shares Pass Below 50-Day Moving Average – Should You Sell?

WidePoint Corporation (NYSEAMERICAN:WYY)’s share price crossed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $10.88 and traded as low as $10.81. WidePoint shares last traded at $11.13, with a volume of 113,475 shares.

Analyst Upgrades and Downgrades

Separately, Zacks Research lowered shares of WidePoint from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 13th. Two equities research 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.com, the company currently has an average rating of “Moderate Buy” and an average target price of $9.00.

WidePoint Stock Up 10.0%

The company has a market cap of $123.20 million, a price-to-earnings ratio of -94.76 and a beta of 1.79. The business’s fifty day simple moving average is $10.82 and its two-hundred day simple moving average is $9.34.

WidePoint (NYSEAMERICAN:WYY) last posted its earnings results on Thursday, August 13th. The technology company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.03). WidePoint had a negative net margin of 0.81% and a negative return on equity of 10.74%. The company had revenue of $38.00 million during the quarter, compared to analysts’ expectations of $41.83 million. Sell-side analysts predict that WidePoint Corporation will post 0.03 EPS for the current fiscal year.

Insider Transactions at WidePoint

In related news, Director John J. Fitzgerald sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $15.63, for a total transaction of $234,450.00. Following the transaction, the director owned 90,414 shares in the company, valued at $1,413,170.82. This trade represents a 14.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Robert J. George sold 16,882 shares of WidePoint stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $16.16, for a total value of $272,813.12. Following the transaction, the chief financial officer directly owned 19,842 shares in the company, valued at approximately $320,646.72. This trade represents a 45.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 72,745 shares of company stock worth $1,249,244. Corporate insiders own 16.10% of the company’s stock.

Hedge Funds Weigh In On WidePoint

A number of hedge funds have recently modified their holdings of WYY. Potomac Capital Management Inc. purchased a new position in WidePoint during the 4th quarter worth $1,051,000. Royal Bank of Canada raised its holdings in shares of WidePoint by 19,130.8% in the first quarter. Royal Bank of Canada now owns 5,000 shares of the technology company’s stock valued at $25,000 after buying an additional 4,974 shares during the last quarter. PNC Financial Services Group Inc. acquired a new stake in shares of WidePoint during the first quarter worth about $50,000. Finally, Cassaday & Co Wealth Management LLC acquired a new stake in shares of WidePoint during the first quarter worth about $87,000. 22.60% of the stock is currently owned by hedge funds and other institutional investors.

About WidePoint

WidePoint Corporation is a technology company that provides secure communications, identity management and enterprise mobility solutions. Its services are designed to help government agencies and commercial organizations manage connected devices, protect digital identities and support secure access to information and communications networks.

The company’s offerings include managed mobility services, telecommunications expense management and cybersecurity-related solutions. WidePoint also provides digital identity and credentialing capabilities, including tools intended to support authentication, access control and the secure management of mobile devices, users and communications services.

WidePoint serves customers in the U.S.