Key Points
- WidePoint CFO Robert George sold 16,882 shares on June 29 at an average price of $16.16, totaling $272,813.12. After the sale, he still held 19,842 shares, representing a 45.97% reduction in his position.
- WidePoint recently beat earnings expectations, reporting $0.01 EPS versus a projected loss of $0.12 and revenue of $40.58 million versus estimates of $37.87 million. Despite the beat, the company remains unprofitable with negative net margin and return on equity.
- Analyst sentiment is mixed but constructive, with three Buy ratings and one Hold, leading to a “Moderate Buy” consensus and an average price target of $8.67. Institutional ownership stands at 22.60%, with several funds recently adding to positions.
WidePoint Corporation (NYSEAMERICAN:WYY - Get Free Report) CFO Robert George sold 16,882 shares of the business's stock in a transaction on Monday, June 29th. The stock was sold at an average price of $16.16, for a total transaction of $272,813.12. Following the completion of the sale, the chief financial officer directly owned 19,842 shares of the company's stock, valued at approximately $320,646.72. The trade was a 45.97% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
WidePoint Stock Performance
NYSEAMERICAN:WYY opened at $17.50 on Wednesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market capitalization of $173.07 million, a PE ratio of -87.50 and a beta of 1.81. WidePoint Corporation has a fifty-two week low of $2.80 and a fifty-two week high of $24.30. The company has a fifty day moving average of $10.57 and a two-hundred day moving average of $7.30.
WidePoint (NYSEAMERICAN:WYY - Get Free Report) last announced its earnings results on Thursday, May 14th. The technology company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.13. The business had revenue of $40.58 million for the quarter, compared to analyst estimates of $37.87 million. WidePoint had a negative net margin of 1.24% and a negative return on equity of 16.24%. As a group, research analysts forecast that WidePoint Corporation will post -0.06 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several brokerages recently commented on WYY. Zacks Research upgraded WidePoint from a "strong sell" rating to a "hold" rating in a research report on Thursday, May 28th. HC Wainwright reaffirmed a "buy" rating and set a $9.00 target price on shares of WidePoint in a research note on Monday, March 30th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $8.67.
View Our Latest Analysis on WYY
Institutional Investors Weigh In On WidePoint
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in WidePoint by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 376,513 shares of the technology company's stock valued at $1,862,000 after buying an additional 8,850 shares in the last quarter. Potomac Capital Management Inc. purchased a new stake in shares of WidePoint in the fourth quarter valued at about $1,051,000. Renaissance Technologies LLC increased its position in WidePoint by 3.0% during the fourth quarter. Renaissance Technologies LLC now owns 132,098 shares of the technology company's stock worth $709,000 after purchasing an additional 3,898 shares during the last quarter. Informed Momentum Co LLC acquired a new position in WidePoint in the 4th quarter valued at about $527,000. Finally, Geode Capital Management LLC grew its stake in shares of WidePoint by 4.5% in the 4th quarter. Geode Capital Management LLC now owns 85,777 shares of the technology company's stock valued at $461,000 after buying an additional 3,675 shares during the period. Institutional investors and hedge funds own 22.60% of the company's stock.
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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