WidePoint (NYSEAMERICAN:WYY) Share Price Crosses Below 50-Day Moving Average of $1.95

WidePoint Co. (NYSEAMERICAN:WYY – Get Rating) crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $1.95 and traded as low as $1.81. WidePoint shares last traded at $1.82, with a volume of 2,798 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on WidePoint in a report on Thursday. They issued a “sell” rating for the company.

WidePoint Price Performance

The company has a market cap of $15.37 million, a P/E ratio of -1.01 and a beta of 1.04. The stock has a 50-day moving average of $1.87 and a 200 day moving average of $2.00.

WidePoint (NYSEAMERICAN:WYY – Get Rating) last released its quarterly earnings data on Monday, May 15th. The technology company reported ($0.11) earnings per share for the quarter. The business had revenue of $25.27 million during the quarter. WidePoint had a negative net margin of 16.03% and a positive return on equity of 2.98%.

Institutional Trading of WidePoint

Hedge funds have recently made changes to their positions in the company. Susquehanna International Group LLP bought a new position in shares of WidePoint during the first quarter worth about $25,000. UBS Group AG bought a new stake in WidePoint in the first quarter worth approximately $29,000. Citadel Advisors LLC increased its holdings in WidePoint by 121.1% in the third quarter. Citadel Advisors LLC now owns 13,577 shares of the technology company’s stock worth $29,000 after purchasing an additional 7,437 shares in the last quarter. Renaissance Technologies LLC bought a new stake in WidePoint in the second quarter worth approximately $37,000. Finally, Channel Wealth LLC bought a new stake in WidePoint in the first quarter worth approximately $40,000. 11.85% of the stock is owned by institutional investors and hedge funds.

About WidePoint

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WidePoint Corp. engages in the provision of Technology Management as a Service (TMaaS). The firm is involved in providing managed services for government and commercial clients that include identity management, secure mobility managed services, telecom lifecycle management, digital billing and analytics, and Information Technology as a service (ITaaS).