FY2024 EPS Estimates for WidePoint Increased by Analyst

WidePoint Co. (NYSEAMERICAN:WYY) – Research analysts at HC Wainwright upped their FY2024 earnings per share estimates for WidePoint in a note issued to investors on Thursday, November 14th. HC Wainwright analyst S. Buck now forecasts that the technology company will post earnings of ($0.29) per share for the year, up from their previous estimate of ($0.32). HC Wainwright currently has a “Buy” rating and a $7.00 target price 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 Price Performance

Shares of NYSEAMERICAN:WYY opened at $5.05 on Monday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a market capitalization of $49.49 million, a PE ratio of -16.29 and a beta of 1.65. WidePoint has a one year low of $1.65 and a one year high of $5.31.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of WYY. Essex Investment Management Co. LLC boosted its stake 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 in the last quarter. Dimensional Fund Advisors LP boosted its position in WidePoint by 41.8% during 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 in the last quarter. Finally, Summit Financial Strategies Inc. grew its holdings in shares of WidePoint by 170.5% during the 2nd quarter. Summit Financial Strategies Inc. now owns 103,068 shares of the technology company’s stock worth $432,000 after acquiring an additional 64,963 shares during the period. Institutional investors own 22.60% of the company’s stock.

Insider Buying and Selling at WidePoint

In related news, CFO Robert J. George sold 9,000 shares of the firm’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 directly owns 115,474 shares in the company, valued at $407,623.22. This trade represents a 7.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders have acquired 5,000 shares of company stock worth $17,000 and have sold 10,750 shares worth $38,033. Company insiders own 14.60% 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.