WidePoint (NYSEAMERICAN:WYY) Earns Buy Rating from Analysts at HC Wainwright

HC Wainwright initiated coverage on shares of WidePoint (NYSEAMERICAN:WYY) in a research note released on Thursday, MarketBeat reports. The firm issued a buy rating and a $7.00 price objective on the technology company’s stock.

WidePoint Stock Performance

NYSEAMERICAN WYY opened at $3.55 on Thursday. The firm has a market cap of $34.26 million, a price-to-earnings ratio of -9.59 and a beta of 1.65. WidePoint has a fifty-two week low of $1.61 and a fifty-two week 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.

WidePoint (NYSEAMERICAN:WYY) last announced its quarterly earnings data on Wednesday, August 14th. The technology company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.03. WidePoint had a negative return on equity of 23.31% and a negative net margin of 2.74%. The business had revenue of $36.04 million during the quarter, compared to the consensus estimate of $29.64 million. As a group, research 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 stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $3.53, for a total value of $31,770.00. Following the completion of the transaction, the chief financial officer now owns 115,474 shares of the company’s stock, valued at $407,623.22. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders have purchased 5,000 shares of company stock valued at $17,000 and have sold 14,750 shares valued at $52,833. 14.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On WidePoint

Institutional investors and hedge funds have recently bought and sold shares of the company. Essex Investment Management Co. LLC grew its holdings in shares of WidePoint by 46.2% during the third quarter. Essex Investment Management Co. LLC now owns 46,152 shares of the technology company’s stock worth $163,000 after purchasing an additional 14,582 shares during the last quarter. Dimensional Fund Advisors LP increased its position in WidePoint by 41.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 61,058 shares of the technology company’s stock valued at $256,000 after acquiring an additional 17,991 shares during the period. Finally, Summit Financial Strategies Inc. increased its position in WidePoint by 170.5% in the 2nd 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 period. Institutional investors and hedge funds 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.