WidePoint (NYSEAMERICAN:WYY) Upgraded by Litchfield Hills Research to “Strong-Buy”

Litchfield Hills Research upgraded shares of WidePoint (NYSEAMERICAN:WYY) to a strong-buy rating in a research note issued to investors on Monday morning, Zacks.com reports.

Separately, StockNews.com started coverage on shares of WidePoint in a research report on Sunday, June 16th. They set a hold rating for the company.

WidePoint Price Performance

NYSEAMERICAN WYY opened at $3.87 on Monday. The stock has a market cap of $36.03 million, a P/E ratio of -9.21 and a beta of 1.54. WidePoint has a 52-week low of $1.60 and a 52-week high of $4.15.

WidePoint (NYSEAMERICAN:WYY) last posted its quarterly earnings results on Wednesday, May 15th. The technology company reported ($0.07) EPS for the quarter. WidePoint had a negative net margin of 3.26% and a negative return on equity of 24.70%. The business had revenue of $34.21 million during the quarter.

Institutional Investors Weigh In On WidePoint

An institutional investor recently raised its position in WidePoint stock. Platform Technology Partners lifted its position in shares of WidePoint Co. (NYSEAMERICAN:WYY) by 74.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 46,753 shares of the technology company’s stock after buying an additional 20,000 shares during the quarter. Platform Technology Partners owned approximately 0.53% of WidePoint worth $108,000 at the end of the most recent quarter. 22.60% of the stock is owned by institutional investors.

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.