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

WidePoint Corporation (NYSEAMERICAN:WYY) saw a large 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. Approximately 0.9% of the company’s stock are sold short. Based on an average daily trading volume, of 243,042 shares, the days-to-cover ratio is currently 0.3 days.

Hedge Funds Weigh In On WidePoint

Several institutional investors have recently bought and sold shares of WYY. NewEdge Advisors LLC raised its position in WidePoint by 194.5% during the 4th quarter. NewEdge Advisors LLC now owns 46,028 shares of the technology company’s stock worth $247,000 after buying an additional 30,397 shares during the last quarter. Jane Street Group LLC boosted its holdings in shares of WidePoint by 98.6% in the fourth quarter. Jane Street Group LLC now owns 52,751 shares of the technology company’s stock valued at $283,000 after acquiring an additional 26,193 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of WidePoint by 4.5% in the fourth quarter. Geode Capital Management LLC now owns 85,777 shares of the technology company’s stock valued at $461,000 after acquiring an additional 3,675 shares in the last quarter. Ritholtz Wealth Management purchased a new stake in shares of WidePoint in the fourth quarter valued at about $79,000. Finally, PNC Financial Services Group Inc. purchased a new stake in shares of WidePoint in the first quarter valued at about $50,000. 22.60% of the stock is owned by institutional investors and hedge funds.

WidePoint Stock Up 3.8%

Shares of NYSEAMERICAN WYY traded up $0.41 during mid-day trading on Friday, reaching $11.29. The company had a trading volume of 253,358 shares, compared to its average volume of 198,356. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.32. The firm has a 50 day simple moving average of $6.81 and a two-hundred day simple moving average of $6.21. The stock 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.

WidePoint (NYSEAMERICAN:WYY) last issued its quarterly earnings data on Thursday, May 14th. The technology company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.13. WidePoint had a negative net margin of 1.24% and a negative return on equity of 16.24%. The company had revenue of $40.58 million for the quarter, compared to the consensus estimate of $37.87 million. Sell-side analysts predict that WidePoint will post -0.06 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. HC Wainwright restated a “buy” rating and issued a $9.00 price objective on shares of WidePoint in a report on Monday, March 30th. Zacks Research upgraded shares of WidePoint from a “strong sell” rating to a “hold” rating in a report on Thursday. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $8.67.

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.