WidePoint Co. (NYSEAMERICAN:WYY) Short Interest Update

WidePoint Co. (NYSEAMERICAN:WYY) saw a significant drop in short interest in the month of June. As of June 15th, there was short interest totalling 46,300 shares, a drop of 24.8% from the May 31st total of 61,600 shares. Based on an average trading volume of 102,900 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.6% of the shares of the stock are sold short.

WidePoint Stock Performance

WYY stock traded up $0.55 during midday trading on Friday, hitting $4.19. The company’s stock had a trading volume of 444,779 shares, compared to its average volume of 126,487. WidePoint has a 12 month low of $1.60 and a 12 month high of $4.24.

WidePoint (NYSEAMERICAN:WYY) last released its quarterly earnings results on Wednesday, May 15th. The technology company reported ($0.07) earnings per share for the quarter. WidePoint had a negative net margin of 3.26% and a negative return on equity of 24.70%. The company had revenue of $34.21 million for the quarter. Equities analysts predict that WidePoint will post -0.37 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in WidePoint stock. Platform Technology Partners raised its stake in WidePoint Co. (NYSEAMERICAN:WYY) by 74.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 46,753 shares of the technology company’s stock after buying an additional 20,000 shares during the quarter. Platform Technology Partners owned approximately 0.53% of WidePoint worth $108,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 22.60% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on WYY. Litchfield Hills Research raised shares of WidePoint to a “strong-buy” rating in a research note on Monday, June 24th. StockNews.com began coverage on shares of WidePoint in a research note on Sunday, June 16th. They issued a “hold” rating on the stock.

About WidePoint

WidePoint Corporation provides technology management as a service (TMaaS) to the government and business enterprises in North America and Europe. It offers TMaaS solutions through a secure federal government certified proprietary portal and secure enterprise portal that provides ability to manage, analyze, and protect communications assets, as well as deploys identity management solutions that provides secured virtual and physical access to restricted environments.