WidePoint (NYSEAMERICAN:WYY) Shares Cross Below Fifty Day Moving Average – Time to 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 $9.80 and traded as low as $6.81. WidePoint shares last traded at $6.95, with a volume of 107,118 shares traded.

Wall Street Analysts Forecast Growth

Separately, Zacks Research lowered WidePoint from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 13th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, WidePoint presently has an average rating of “Moderate Buy” and an average target price of $9.00.

WidePoint Trading Down 4.1%

The business has a fifty day moving average of $9.65 and a 200-day moving average of $9.91.

WidePoint (NYSEAMERICAN:WYY) last released 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 return on equity of 10.74% and a negative net margin of 0.81%. The business had revenue of $38.00 million during the quarter, compared to the consensus estimate of $41.83 million. Analysts anticipate that WidePoint Corporation will post 0.05 EPS for the current year.

Hedge Funds Weigh In On WidePoint

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cassaday & Co Wealth Management LLC purchased a new stake in shares of WidePoint in the first quarter valued at $87,000. PNC Financial Services Group Inc. acquired a new stake in shares of WidePoint in the first quarter worth $50,000. Finally, Royal Bank of Canada boosted its position 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 worth $25,000 after buying an additional 4,974 shares during the period. 22.60% of the stock is currently owned by hedge funds and other institutional investors.

WidePoint Company Profile

WidePoint Corporation is a technology services company that provides cybersecurity, identity management and managed mobility solutions. Its customers include U.S. government agencies, government contractors and commercial organizations that require secure access to communications, devices, applications and data.

The company’s offerings include identity, credential and access management; public key infrastructure and digital certificate services; mobile device and telecommunications management; and telecom expense management.