HC Wainwright Forecasts Increased Earnings for WidePoint

WidePoint Co. (NYSEAMERICAN:WYY) – Investment analysts at HC Wainwright boosted their FY2024 earnings per share estimates for shares of WidePoint in a report released on Thursday, November 14th. HC Wainwright analyst S. Buck now expects that the technology company will post earnings per share of ($0.29) for the year, up from their prior estimate of ($0.32). HC Wainwright currently has a “Buy” rating and a $7.00 price objective on the stock. The consensus estimate for WidePoint’s current full-year earnings is ($0.26) per share. HC Wainwright also issued estimates for WidePoint’s Q4 2024 earnings at ($0.12) EPS and FY2025 earnings at ($0.04) EPS.

WidePoint Stock Up 14.0 %

Shares of WYY opened at $4.23 on Monday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.07 and a quick ratio of 1.07. WidePoint has a one year low of $1.65 and a one year high of $4.55. The firm has a market capitalization of $41.45 million, a P/E ratio of -13.64 and a beta of 1.65.

Insider Activity at WidePoint

In related news, CFO Robert J. George sold 9,000 shares of WidePoint stock in a transaction 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 transaction, the chief financial officer now directly owns 115,474 shares in the company, valued at approximately $407,623.22. The trade was a 7.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have purchased 5,000 shares of company stock worth $17,000 and have sold 10,750 shares worth $38,033. 14.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On WidePoint

Large investors have recently made changes to their positions in the business. Essex Investment Management Co. LLC lifted its position in shares of WidePoint by 46.2% in the third quarter. Essex Investment Management Co. LLC now owns 46,152 shares of the technology company’s stock valued at $163,000 after acquiring an additional 14,582 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake 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 buying an additional 17,991 shares during the last quarter. Finally, Summit Financial Strategies Inc. boosted its stake in 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 buying an additional 64,963 shares during the last quarter. 22.60% of the stock is currently owned by hedge funds and other institutional investors.

About WidePoint

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.