WidePoint Corporation (NYSEAMERICAN:WYY) Short Interest Down 65.6% in August

Key Points

• WidePoint Corporation's short interest decreased by 65.6% in August, dropping from 150,200 shares to 51,700 shares as of August 31st.
• Institutional investors hold 22.60% of WidePoint's stock, with notable investments from firms like XTX Topco Ltd and Cassaday & Co Wealth Management LLC.
• Analyst ratings for WidePoint include two "buy" ratings and an average target price of $7.50, with HC Wainwright setting a price target of $7.00.

WidePoint Corporation (NYSEAMERICAN:WYY - Get Free Report) was the recipient of a large decrease in short interest in the month of August. As of August 31st, there was short interest totaling 51,700 shares, a decrease of 65.6% from the August 15th total of 150,200 shares. Based on an average daily volume of 84,000 shares, the short-interest ratio is currently 0.6 days. Approximately 0.6% of the shares of the company are short sold. Approximately 0.6% of the shares of the company are short sold. Based on an average daily volume of 84,000 shares, the short-interest ratio is currently 0.6 days.

Institutional Investors Weigh In On WidePoint

Institutional investors have recently made changes to their positions in the company. XTX Topco Ltd bought a new position in shares of WidePoint during the second quarter worth approximately $58,000. Cassaday & Co Wealth Management LLC bought a new position in WidePoint during the 2nd quarter worth $60,000. Jane Street Group LLC bought a new position in WidePoint during the 4th quarter worth $101,000. NewEdge Advisors LLC acquired a new stake in shares of WidePoint during the second quarter worth $74,000. Finally, Truvestments Capital LLC boosted its position in shares of WidePoint by 7.6% in the first quarter. Truvestments Capital LLC now owns 41,389 shares of the technology company's stock valued at $138,000 after acquiring an additional 2,916 shares during the period. Institutional investors own 22.60% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on WYY shares. Wall Street Zen initiated coverage on shares of WidePoint in a research note on Tuesday, May 20th. They issued a "hold" rating for the company. HC Wainwright reaffirmed a "buy" rating and issued a $7.00 price target on shares of WidePoint in a report on Monday, August 18th. Finally, Litchfield Hills Research reissued a "buy" rating and set a $8.00 price objective on shares of WidePoint in a report on Friday, August 15th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $7.50.

WidePoint Price Performance

Shares of WYY opened at $5.66 on Friday. The company's 50-day moving average is $3.78 and its 200-day moving average is $3.65. The firm has a market capitalization of $55.35 million, a PE ratio of -25.73 and a beta of 1.83. WidePoint has a fifty-two week low of $2.19 and a fifty-two week high of $6.25.

WidePoint Company Profile

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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