Short Interest in WidePoint Corporation (NYSEAMERICAN:WYY) Decreases By 70.0%

Key Points

• Short interest in WidePoint Corporation (NYSEAMERICAN:WYY) has decreased by 70% from 50,700 shares to 15,200 shares in September, reflecting a significant decline in bearish sentiment towards the stock.
• WidePoint's stock is currently priced at $5.43, with a market capitalization of $53.11 million and a 52-week range between $2.19 and $6.25.
• Analysts have set a favorable outlook for WidePoint, with multiple firms restating a "buy" rating and price targets reaching as high as $9.00.

WidePoint Corporation (NYSEAMERICAN:WYY - Get Free Report) was the recipient of a large decline in short interest in the month of September. As of September 30th, there was short interest totaling 15,200 shares, a decline of 70.0% from the September 15th total of 50,700 shares. Based on an average daily volume of 76,900 shares, the short-interest ratio is presently 0.2 days. Currently, 0.2% of the shares of the company are sold short. Currently, 0.2% of the shares of the company are sold short. Based on an average daily volume of 76,900 shares, the short-interest ratio is presently 0.2 days.

WidePoint Stock Down 0.4%

WidePoint stock opened at $5.43 on Friday. WidePoint has a 52-week low of $2.19 and a 52-week high of $6.25. The firm has a market capitalization of $53.11 million, a price-to-earnings ratio of -24.68 and a beta of 1.84. The company has a fifty day simple moving average of $4.93 and a 200-day simple moving average of $3.95.

Analysts Set New Price Targets

WYY has been the subject of a number of research analyst reports. HC Wainwright restated a "buy" rating and set a $7.00 price objective on shares of WidePoint in a research report on Monday, August 18th. Litchfield Hills Research restated a "buy" rating and set a $8.00 price objective on shares of WidePoint in a research report on Friday, August 15th. Finally, Westpark Capital restated a "buy" rating and set a $9.00 price objective on shares of WidePoint in a research report on Tuesday, October 7th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of $8.00.

Institutional Investors Weigh In On WidePoint

Large investors have recently modified their holdings of the business. Truvestments Capital LLC grew its holdings in shares of WidePoint by 7.6% during the first quarter. Truvestments Capital LLC now owns 41,389 shares of the technology company's stock worth $138,000 after buying an additional 2,916 shares in the last quarter. Summit Financial Strategies Inc. grew its holdings 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 buying an additional 25,932 shares in the last quarter. Bridgeway Capital Management LLC grew its holdings in shares of WidePoint by 87.6% in the second quarter. Bridgeway Capital Management LLC now owns 60,527 shares of the technology company's stock valued at $207,000 after purchasing an additional 28,269 shares during the period. Jane Street Group LLC purchased a new stake in shares of WidePoint in the second quarter valued at about $87,000. Finally, NewEdge Advisors LLC purchased a new stake in shares of WidePoint in the second quarter valued at about $74,000. Hedge funds and other institutional investors own 22.60% of the company's 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.

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