WidePoint (NYSEAMERICAN:WYY) Receives Buy Rating from HC Wainwright

WidePoint (NYSEAMERICAN:WYY)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a report issued on Thursday,Benzinga reports. They presently have a $7.00 target price on the technology company’s stock. HC Wainwright’s price objective indicates a potential upside of 73.70% from the company’s previous close.

WidePoint Price Performance

WYY stock opened at $4.03 on Thursday. WidePoint has a 1-year low of $1.65 and a 1-year high of $4.55. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.06 and a quick ratio of 1.06. The stock has a market capitalization of $38.89 million, a PE ratio of -10.89 and a beta of 1.65.

WidePoint (NYSEAMERICAN:WYY) last posted its quarterly earnings results on Wednesday, August 14th. The technology company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. The business had revenue of $36.04 million during the quarter, compared to analysts’ expectations of $29.64 million. WidePoint had a negative net margin of 2.74% and a negative return on equity of 23.31%. As a group, equities research analysts forecast that WidePoint will post -0.28 earnings per share for the current year.

Insiders Place Their Bets

In other WidePoint news, CFO Robert J. George sold 9,000 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $3.53, for a total transaction of $31,770.00. Following the completion of the sale, 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 document filed with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders have acquired 5,000 shares of company stock worth $17,000 and have sold 14,750 shares worth $52,833. Corporate insiders own 14.60% of the company’s stock.

Institutional Trading of WidePoint

Several institutional investors and hedge funds have recently made changes to their positions in the company. Summit Financial Strategies Inc. increased its position in shares of WidePoint by 170.5% during the second quarter. Summit Financial Strategies Inc. now owns 103,068 shares of the technology company’s stock valued at $432,000 after acquiring an additional 64,963 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of WidePoint by 41.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 61,058 shares of the technology company’s stock worth $256,000 after purchasing an additional 17,991 shares during the period. Finally, Essex Investment Management Co. LLC grew its position in WidePoint by 46.2% during the third quarter. Essex Investment Management Co. LLC now owns 46,152 shares of the technology company’s stock valued at $163,000 after buying an additional 14,582 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.