WidePoint (NYSEAMERICAN:WYY) CFO Sells $105,900.00 in Stock

WidePoint Corporation (NYSEAMERICAN:WYY) CFO Robert George sold 10,000 shares of WidePoint stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $10.59, for a total value of $105,900.00. Following the completion of the transaction, the chief financial officer directly owned 54,493 shares in the company, valued at $577,080.87. This represents a 15.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

WidePoint Trading Down 2.7%

Shares of WYY opened at $10.97 on Friday. The business’s 50-day moving average price is $7.42 and its 200 day moving average price is $6.38. The stock has a market capitalization of $108.49 million, a P/E ratio of -54.85 and a beta of 1.81. WidePoint Corporation has a 1-year low of $2.80 and a 1-year high of $12.25. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.32.

WidePoint (NYSEAMERICAN:WYY) last issued its quarterly earnings results on Thursday, May 14th. The technology company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.13. The firm had revenue of $40.58 million for the quarter, compared to analysts’ expectations of $37.87 million. WidePoint had a negative return on equity of 16.24% and a negative net margin of 1.24%. Analysts expect that WidePoint Corporation will post -0.06 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on WYY. Zacks Research raised WidePoint from a “strong sell” rating to a “hold” rating in a research note 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 analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $8.67.

Hedge Funds Weigh In On WidePoint

Several institutional investors and hedge funds have recently bought and sold shares of the business. Royal Bank of Canada grew its stake in WidePoint by 19,130.8% during the 1st quarter. Royal Bank of Canada now owns 5,000 shares of the technology company’s stock valued at $25,000 after acquiring an additional 4,974 shares in the last quarter. PNC Financial Services Group Inc. acquired a new stake in shares of WidePoint during the 1st quarter valued at about $50,000. Cassaday & Co Wealth Management LLC bought a new stake in shares of WidePoint in the 1st quarter valued at approximately $87,000. NewEdge Advisors LLC grew its stake 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 valued at $247,000 after buying an additional 30,397 shares in the last quarter. Finally, State Street Corp grew its stake 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 valued at $146,000 after buying an additional 2,400 shares in the last quarter. Hedge funds and other institutional investors own 22.60% of the company’s stock.

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.