WidePoint (NYSEAMERICAN:WYY) Stock Price Crosses Above 50 Day Moving Average – What’s Next?

WidePoint Corporation (NYSEAMERICAN:WYY) shares crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $6.31 and traded as high as $7.26. WidePoint shares last traded at $7.18, with a volume of 83,275 shares changing hands.

Analyst Ratings Changes

A number of research firms have issued reports on WYY. HC Wainwright restated a “buy” rating and issued a $9.00 price objective (up previously from $7.00) on shares of WidePoint in a research report on Friday, October 31st. Westpark Capital restated a “buy” rating and set a $9.00 price target on shares of WidePoint in a report on Tuesday, October 7th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $8.67.

WidePoint Stock Performance

The firm’s 50-day moving average price is $6.31 and its two-hundred day moving average price is $5.25. The stock has a market cap of $71.01 million, a price-to-earnings ratio of -29.92 and a beta of 1.34.

WidePoint (NYSEAMERICAN:WYY) last issued its earnings results on Thursday, November 13th. The technology company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). WidePoint had a negative return on equity of 17.61% and a negative net margin of 1.55%.The firm had revenue of $36.13 million for the quarter, compared to analysts’ expectations of $39.64 million. As a group, sell-side analysts expect that WidePoint Corporation will post -0.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On WidePoint

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of 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 purchasing an additional 8,850 shares in the last quarter. XTX Topco Ltd purchased a new position in WidePoint in the second quarter valued at approximately $58,000. Cassaday & Co Wealth Management LLC purchased a new position in shares of WidePoint during the second quarter worth about $60,000. NewEdge Advisors LLC acquired a new stake in shares of WidePoint during the second quarter worth about $74,000. Finally, Jane Street Group LLC purchased a new stake in shares of WidePoint in the 2nd quarter valued at about $87,000. 22.60% of the stock is owned by institutional investors and hedge funds.

WidePoint Company Profile

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.