WidePoint (NYSEAMERICAN:WYY) Coverage Initiated by Analysts at HC Wainwright

HC Wainwright began coverage on shares of WidePoint (NYSEAMERICAN:WYY) in a report issued on Thursday morning, Marketbeat.com reports. The firm issued a buy rating and a $7.00 price objective on the technology company’s stock.

WidePoint Stock Performance

WYY stock opened at $3.58 on Thursday. WidePoint has a twelve month low of $1.61 and a twelve month high of $4.55. The company has a market capitalization of $34.55 million, a PE ratio of -9.68 and a beta of 1.65. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.06 and a current ratio of 1.06.

WidePoint (NYSEAMERICAN:WYY) last announced its earnings results on Wednesday, August 14th. The technology company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.03. WidePoint had a negative net margin of 2.74% and a negative return on equity of 23.31%. The company had revenue of $36.04 million during the quarter, compared to the consensus estimate of $29.64 million. As a group, equities analysts predict that WidePoint will post -0.23 EPS for the current fiscal year.

Insider Activity at WidePoint

In related news, CFO Robert J. George sold 9,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $3.53, for a total value of $31,770.00. Following the transaction, the chief financial officer now directly owns 115,474 shares of the company’s stock, valued at approximately $407,623.22. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders acquired 5,000 shares of company stock valued at $17,000 and sold 14,750 shares valued at $52,833. 14.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On WidePoint

Several institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its holdings in WidePoint by 41.8% during the second quarter. Dimensional Fund Advisors LP now owns 61,058 shares of the technology company’s stock valued at $256,000 after purchasing an additional 17,991 shares during the last quarter. Essex Investment Management Co. LLC boosted its holdings in WidePoint by 46.2% in the 3rd quarter. Essex Investment Management Co. LLC now owns 46,152 shares of the technology company’s stock worth $163,000 after buying an additional 14,582 shares during the period. Finally, Summit Financial Strategies Inc. boosted its holdings in WidePoint by 170.5% in the 2nd quarter. Summit Financial Strategies Inc. now owns 103,068 shares of the technology company’s stock worth $432,000 after buying an additional 64,963 shares during the period. Hedge funds and other institutional investors own 22.60% of the company’s stock.

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.