WidePoint’s (WYY) Buy Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of WidePoint (NYSEAMERICAN:WYY) in a research note published on Thursday morning,Benzinga reports. HC Wainwright currently has a $7.00 target price on the technology company’s stock.

WidePoint Stock Performance

NYSEAMERICAN WYY opened at $3.71 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.07 and a quick ratio of 1.06. WidePoint has a 1-year low of $1.65 and a 1-year high of $4.55. The company has a market cap of $36.36 million, a price-to-earnings ratio of -11.97 and a beta of 1.65.

WidePoint (NYSEAMERICAN:WYY) last posted its earnings results on Wednesday, August 14th. The technology company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.03. The firm had revenue of $36.04 million during the quarter, compared to analyst estimates of $29.64 million. WidePoint had a negative net margin of 2.19% and a negative return on equity of 20.51%. As a group, equities analysts anticipate that WidePoint will post -0.28 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Robert J. George sold 9,000 shares of the company’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 transaction, the chief financial officer now owns 115,474 shares of the company’s stock, valued at approximately $407,623.22. This represents a 7.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last three months, insiders bought 5,000 shares of company stock valued at $17,000 and sold 14,750 shares valued at $52,833. 14.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in WYY. Essex Investment Management Co. LLC increased its holdings in WidePoint by 46.2% during the 3rd 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 period. Dimensional Fund Advisors LP increased its stake in shares of 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 period. Finally, Summit Financial Strategies Inc. raised its holdings in shares of 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 in the last quarter. Hedge funds and other institutional investors own 22.60% of the company’s stock.

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.