WidePoint CFO sells over $35,000 worth of stock via Investing.com

WidePoint Corp (NYSEAMERICAN:WYY) CFO Robert J. George sold a total of 10,000 shares of the company’s stock, according to a recent filing with the SEC. The trades, made over two consecutive days, resulted in over $35,000 in revenue.

The first sale took place on September 19, 2024, with 9,000 shares sold at a price of $3.53 per share. The following day, another 1,000 shares were sold at a slightly lower price of $3.43 each. Combined sales from these transactions totaled $35,200.

Following these sales, George still owns a substantial number of shares, indicating an ongoing interest in the company’s performance. WidePoint Corp, which specializes in the design of integrated computer systems, has not released any official statement about the transactions.

Investors and market watchers often watch insider sales and buyouts because they can provide insight into a company’s financial health and future prospects. WidePoint’s CFO’s recent sales may be of particular interest to those following the company’s stock, which is publicly traded under the ticker symbol WYY on the US NYSE.

In other recent news, WidePoint Corporation reported robust growth in the second quarter of 2024, with revenue up 35% to $36 million. The company also noted positive adjusted EBITDA for the 28th consecutive quarter and strong sales volume, including substantial contract wins and strategic partnerships. Recent developments include the $2.7 billion Spiral 4 contract and a $254 million addition to the CWMS 2.0 contract. The company is optimistic about the SEWP VI contract, which could further increase its market share. WidePoint is also actively seeking opportunities in the commercial sector, including the K-12 market. While facing challenges such as increasing days sales outstanding (DSO) and $25.8 million in bad debt, the company aims to achieve positive earnings per share in 2025. WidePoint anticipates obtaining FedRAMP authorization by the end of 2024, which which could strengthen its position in the market.

InvestingPro Insights

WidePoint Corp (NYSEAMERICAN:WYY) has been a notable performer in the stock market with a strong return over the last three months, as shown by a total price return of 17.16% over that period. The company’s share price has also seen significant growth with a total price return of 36.02% over the past six months and an impressive 108.82% return over the past year. These indicators suggest a robust upward trend in share value, aligned with recent trades by CFO Robert J. George.

Despite the positive share price momentum, WidePoint Corp is currently trading at a low earnings multiple, which could indicate that the stock is undervalued relative to its revenue generation. This is an interesting point for investors considering the company’s revenue growth of 23.44% in the last twelve months starting from Q2 2024. Moreover, the company’s market cap is $28.92 million and it operates with a moderate level of debt, which could provide a sense of stability for potential investors.

InvestingPro Tips points out that WidePoint Corp does not pay a dividend to shareholders, which may be a factor for those looking for regular income from their investments. However, the company’s strong returns over various periods could be attractive to growth-focused investors. For those interested in additional information and metrics, there are additional InvestingPro tips available at https://www.investing.com/pro/WYY that may further inform investment decisions.

This article was generated with support from AI and reviewed by an editor. For more information, see T&C.