WidePoint Corporation (NYSEAMERICAN:WYY) Short Interest Update

WidePoint Corporation (NYSEAMERICAN:WYY) was the recipient of a large drop in short interest in January. As of January 30th, there was short interest totaling 18,582 shares, a drop of 16.7% from the January 15th total of 22,305 shares. Approximately 0.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 32,494 shares, the days-to-cover ratio is presently 0.6 days. Based on an average daily trading volume, of 32,494 shares, the days-to-cover ratio is presently 0.6 days. Approximately 0.2% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Separately, HC Wainwright reaffirmed a “buy” rating and set a $9.00 price objective (up previously from $7.00) on shares of WidePoint in a research note on Friday, October 31st. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $8.67.

WidePoint Price Performance

Shares of NYSEAMERICAN:WYY traded down $0.11 during midday trading on Wednesday, reaching $4.89. 57,730 shares of the company’s stock were exchanged, compared to its average volume of 38,481. The stock has a market cap of $48.31 million, a price-to-earnings ratio of -20.29 and a beta of 1.40. The firm’s 50 day simple moving average is $6.15 and its two-hundred day simple moving average is $5.74. WidePoint has a fifty-two week low of $2.19 and a fifty-two week high of $7.55.

Institutional Trading of WidePoint

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cassaday & Co Wealth Management LLC acquired a new position in shares of WidePoint in the 2nd quarter valued at $60,000. Vanguard Group Inc. boosted its stake in WidePoint by 2.4% in the third 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 in the last quarter. Geode Capital Management LLC grew its holdings in shares of WidePoint by 4.5% during the fourth quarter. Geode Capital Management LLC now owns 85,777 shares of the technology company’s stock worth $461,000 after purchasing an additional 3,675 shares during the last quarter. Ritholtz Wealth Management acquired a new stake in shares of WidePoint during the fourth quarter worth about $79,000. Finally, Potomac Capital Management Inc. purchased a new stake in shares of WidePoint in the 4th quarter valued at about $1,051,000. Institutional investors and hedge funds own 22.60% of the company’s stock.

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.