WidePoint (NYSEAMERICAN:WYY) Stock Price Breaks Below 50-Day Moving Average – Here’s Why
by Tristan Rich · The Markets DailyShares of WidePoint Corporation (NYSEAMERICAN:WYY – Get Free Report) crossed below its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $9.25 and traded as low as $6.00. WidePoint shares last traded at $6.02, with a volume of 93,358 shares traded.
Analyst Ratings Changes
Separately, Zacks Research downgraded WidePoint from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 13th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $9.00.
Check Out Our Latest Analysis on WYY
WidePoint Price Performance
The firm’s 50 day moving average price is $9.05 and its two-hundred day moving average price is $9.98.
WidePoint (NYSEAMERICAN:WYY – Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The technology company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.03). WidePoint had a negative net margin of 0.81% and a negative return on equity of 10.74%. The business had revenue of $38.00 million for the quarter, compared to analysts’ expectations of $41.83 million. As a group, equities research analysts expect that WidePoint Corporation will post 0.05 EPS for the current fiscal year.
Institutional Trading of WidePoint
A number of hedge funds and other institutional investors have recently made changes to their positions in WYY. Royal Bank of Canada lifted its holdings 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 worth $25,000 after purchasing an additional 4,974 shares in the last quarter. PNC Financial Services Group Inc. purchased a new position in WidePoint during the 1st quarter valued at about $50,000. Finally, Cassaday & Co Wealth Management LLC bought a new stake in shares of WidePoint during the first quarter valued at about $87,000. 22.60% of the stock is currently owned by institutional investors.
About WidePoint
WidePoint Corporation is a technology services company that provides cybersecurity, identity management and managed mobility solutions. Its customers include U.S. government agencies, government contractors and commercial organizations that require secure access to communications, devices, applications and data.
The company’s offerings include identity, credential and access management; public key infrastructure and digital certificate services; mobile device and telecommunications management; and telecom expense management.