Key Points
- Director John Fitzgerald sold 15,000 shares of WidePoint on July 6 at an average price of $15.63, bringing in about $234,450 and cutting his direct stake by 14.23%.
- WidePoint shares were down 7.2% and opened at $14.15, while the stock has traded between a 12-month low of $2.80 and high of $24.30.
- Despite recent losses, WidePoint beat quarterly earnings and revenue expectations, reporting EPS of $0.01 versus an estimated loss and revenue of $40.58 million versus $37.87 million expected.
WidePoint Corporation (NYSEAMERICAN:WYY - Get Free Report) Director John Fitzgerald sold 15,000 shares of the stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $15.63, for a total value of $234,450.00. Following the sale, the director directly owned 90,414 shares of the company's stock, valued at $1,413,170.82. The trade was a 14.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
WidePoint Trading Down 7.2%
Shares of WYY stock opened at $14.15 on Wednesday. The company has a market capitalization of $139.94 million, a P/E ratio of -70.75 and a beta of 1.71. 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 business's 50 day moving average is $11.64 and its two-hundred day moving average is $7.62. WidePoint Corporation has a twelve month low of $2.80 and a twelve month high of $24.30.
WidePoint (NYSEAMERICAN:WYY - Get Free Report) last issued its quarterly earnings results on Thursday, May 14th. The technology company reported $0.01 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $40.58 million during the quarter, compared to the consensus estimate of $37.87 million. Equities analysts forecast that WidePoint Corporation will post 0.04 EPS for the current year.
Institutional Trading of WidePoint
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Potomac Capital Management Inc. acquired a new position in WidePoint during the fourth quarter worth $1,051,000. Informed Momentum Co LLC acquired a new position in shares of WidePoint during the 4th quarter worth $527,000. 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 buying an additional 30,397 shares in the last quarter. O Shaughnessy Asset Management LLC purchased a new stake in shares of WidePoint in the 4th quarter worth about $152,000. Finally, Bridgeway Capital Management LLC grew its stake in WidePoint by 87.6% in the 2nd quarter. Bridgeway Capital Management LLC now owns 60,527 shares of the technology company's stock valued at $207,000 after acquiring an additional 28,269 shares during the last quarter. Institutional investors and hedge funds own 22.60% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on the stock. Zacks Research raised shares of WidePoint from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 1st. HC Wainwright restated a "buy" rating and issued a $9.00 price objective on shares of WidePoint in a research report on Monday, March 30th. One analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $8.67.
Check Out Our Latest Analysis on WYY
About WidePoint
(
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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