The stock of WidePoint Corporation (NYSE:WYY) is now priced at $0.51 and the shares are -0.03 points down or -4.1% lower compared to its previous closing price of $0.54. The stock had 1.074 million contracts set over the past session. WYY shares’ daily volume is compared to its average trading volume at 1.389 million shares. However, it has a float of 76.91 million and although its performance was -4.63% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the WYY share price recently placing at $0.5 to $0.54.
The shorts are running away from the WidePoint Corporation stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the WYY shares have declined. Short interest in the stock represents just 0.27% of its float, but the volume has dropped by 0.
In the last trading session, WidePoint Corporation (NYSE:WYY) dropped by -$0.025 over the week and lost -$0.2135 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $0.99. The stock recorded its established 52-week high on 06/18/20.
Since 10/02/19, the stock has traded to a low of $0.284 at 81.34%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 0.86. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, WidePoint Corporation’s two-week RSI is 31.23. This suggests that the stock is neutral at the moment and that WYY shares’ price movement remains stable. The stochastic readings are equally revealing at 4.97% meaning the WYY share price is currently in overbought territory.
The technical chart shows that the WYY stock will likely settle at between $0.5389 and $0.5629 per share. However, if the stock dips below $0.4945, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $0.4741.
Currently, the stock is trading in the red of MACD, with a reading of -0.0189. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Craig Hallum cut their recommendation for WYY from Buy to Hold in November 10 review.
The average rating for the WYY equity is 2 and is currently gathering a bullish momentum. Of 2 analysts tracking WidePoint Corporation polled by Reuters, 0 rated WYY as a hold. The remaining 2 analysts were split evenly. However, the split wasn’t equal as a majority (2) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
The stocks P/S ratio currently stands at 43.7 above the group’s average of 39.6. WidePoint Corporation has its P/E ratio at 1.6, which means that the stock is currently trading at a discount relative to the 4.7 industry average.