WidePoint (NYSEAMERICAN:WYY) Now Covered by Analysts at HC Wainwright

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

WidePoint Stock Performance

WYY stock opened at $3.58 on Thursday. 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 company has a market capitalization of $34.55 million, a PE ratio of -9.68 and a beta of 1.65. WidePoint has a 12 month low of $1.61 and a 12 month high of $4.55.

WidePoint (NYSEAMERICAN:WYY) last released its quarterly earnings results 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. The firm had revenue of $36.04 million for 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%. On average, analysts anticipate that WidePoint will post -0.23 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Robert J. George sold 9,000 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now owns 115,474 shares of the company’s stock, valued at approximately $407,623.22. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders acquired 5,000 shares of company stock worth $17,000 and sold 14,750 shares worth $52,833. Corporate insiders own 14.60% of the company’s stock.

Institutional Trading of WidePoint

Hedge funds have recently made changes to their positions in the stock. Summit Financial Strategies Inc. increased its stake in WidePoint by 170.5% in 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 boosted its holdings in shares of WidePoint by 41.8% in 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 in the last quarter. Finally, Essex Investment Management Co. LLC increased its position in shares of WidePoint by 46.2% during the 3rd quarter. Essex Investment Management Co. LLC now owns 46,152 shares of the technology company’s stock valued at $163,000 after purchasing an additional 14,582 shares during the last quarter. 22.60% of the stock is owned by 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.