Key Points
- WidePoint CFO Robert George sold 10,000 shares on May 29 at an average price of $10.59, worth about $105,900. After the sale, he still held 54,493 shares, a 15.51% reduction in his position.
- WidePoint reported stronger-than-expected quarterly results, posting EPS of $0.01 versus analysts' estimate of a $0.12 loss and revenue of $40.58 million versus expectations of $37.87 million. Analysts currently expect the company to post a full-year EPS of -$0.06.
- The stock has been volatile but recently gained, opening at $11.60 and trading up 1.4% in the session. WidePoint has a 52-week range of $2.80 to $12.10, with analysts assigning a consensus rating of “Moderate Buy” and an average target price of $8.67.
WidePoint Corporation (NYSEAMERICAN:WYY - Get Free Report) CFO Robert George sold 10,000 shares of the business's stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $10.59, for a total value of $105,900.00. Following the transaction, the chief financial officer owned 54,493 shares in the company, valued at approximately $577,080.87. This represents a 15.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
WidePoint Stock Up 1.4%
Shares of NYSEAMERICAN:WYY opened at $11.60 on Thursday. WidePoint Corporation has a 1 year low of $2.80 and a 1 year high of $12.10. The company has a market cap of $114.72 million, a PE ratio of -58.00 and a beta of 1.81. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.04 and a quick ratio of 1.04. The stock's 50-day moving average is $7.18 and its 200 day moving average is $6.31.
WidePoint (NYSEAMERICAN:WYY - Get Free Report) last announced its quarterly earnings results on Thursday, May 14th. The technology company reported $0.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.12) by $0.13. WidePoint had a negative return on equity of 16.24% and a negative net margin of 1.24%.The company had revenue of $40.58 million for the quarter, compared to the consensus estimate of $37.87 million. Sell-side analysts anticipate that WidePoint Corporation will post -0.06 EPS for the current year.
Institutional Trading of WidePoint
A number of hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada boosted its position in shares of WidePoint by 19,130.8% in the 1st quarter. Royal Bank of Canada now owns 5,000 shares of the technology company's stock worth $25,000 after purchasing an additional 4,974 shares in the last quarter. PNC Financial Services Group Inc. bought a new stake in shares of WidePoint in the 1st quarter worth approximately $50,000. Cassaday & Co Wealth Management LLC bought a new stake in shares of WidePoint in the 1st quarter worth approximately $87,000. NewEdge Advisors LLC boosted its position in shares of WidePoint by 194.5% in the 4th quarter. NewEdge Advisors LLC now owns 46,028 shares of the technology company's stock worth $247,000 after purchasing an additional 30,397 shares in the last quarter. Finally, State Street Corp boosted its position in shares of WidePoint by 9.7% in the 4th quarter. State Street Corp now owns 27,153 shares of the technology company's stock worth $146,000 after purchasing an additional 2,400 shares in the last quarter. 22.60% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several analysts have commented on WYY shares. Zacks Research upgraded shares of WidePoint from a "strong sell" rating to a "hold" rating in a report on Thursday, May 28th. HC Wainwright restated a "buy" rating and issued a $9.00 price objective on shares of WidePoint in a report on Monday, March 30th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $8.67.
Read Our Latest Stock Analysis on WYY
WidePoint Company Profile
(
Get Free Report)
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.
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