WidePoint (NYSEAMERICAN:WYY) Shares Pass Above Fifty Day Moving Average – What’s Next?

by · The Cerbat Gem

WidePoint Corporation (NYSEAMERICAN:WYY – Get Free Report) shares passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $6.08 and traded as high as $6.87. WidePoint shares last traded at $6.87, with a volume of 12,693 shares traded.

Analysts Set New Price Targets

WYY has been the topic of a number of recent research reports. Litchfield Hills Research reiterated a “buy” rating and set a $8.00 price objective on shares of WidePoint in a research note on Friday, August 15th. Westpark Capital restated a “buy” rating and set a $9.00 target price on shares of WidePoint in a report on Tuesday, October 7th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $9.00 target price (up previously from $7.00) on shares of WidePoint in a research report on Friday, October 31st. Three analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $8.67.

Get Our Latest Analysis on WYY

WidePoint Stock Performance

The firm’s 50 day moving average is $6.08 and its 200 day moving average is $4.57. The stock has a market cap of $67.19 million, a P/E ratio of -31.23 and a beta of 1.84.

WidePoint (NYSEAMERICAN:WYY – Get Free Report) last announced its earnings results on Thursday, November 13th. The technology company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.01). WidePoint had a negative net margin of 1.47% and a negative return on equity of 16.04%. The firm had revenue of $36.13 million during the quarter, compared to analyst estimates of $39.64 million. WidePoint has set its FY 2025 guidance at EPS. As a group, analysts expect that WidePoint Corporation will post -0.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in WYY. Vanguard Group Inc. raised its stake in WidePoint by 2.4% in the third 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 during the last quarter. Summit Financial Strategies Inc. grew its stake in shares of WidePoint by 28.2% during the second quarter. Summit Financial Strategies Inc. now owns 117,748 shares of the technology company’s stock worth $403,000 after acquiring an additional 25,932 shares during the last quarter. Bridgeway Capital Management LLC increased its holdings in shares of WidePoint by 87.6% during the second 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 in the last quarter. Truvestments Capital LLC raised its position in shares of WidePoint by 7.6% in the 1st quarter. Truvestments Capital LLC now owns 41,389 shares of the technology company’s stock valued at $138,000 after purchasing an additional 2,916 shares during the last quarter. Finally, Jane Street Group LLC purchased a new position in shares of WidePoint in the 2nd quarter valued at approximately $87,000. 22.60% of the stock is currently owned by hedge funds and other institutional investors.

WidePoint Company Profile

(Get Free Report)

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.

Featured Articles