FY2024 EPS Forecast for WidePoint Decreased by Analyst

WidePoint Co. (NYSEAMERICAN:WYY) – Litchfield Hills Research dropped their FY2024 earnings estimates for shares of WidePoint in a report released on Monday, November 18th. Litchfield Hills Research analyst B. Sine now expects that the technology company will post earnings per share of ($0.24) for the year, down from their prior estimate of ($0.23). The consensus estimate for WidePoint’s current full-year earnings is ($0.26) per share. Litchfield Hills Research also issued estimates for WidePoint’s Q4 2024 earnings at ($0.07) EPS, Q1 2025 earnings at ($0.03) EPS, Q3 2025 earnings at ($0.13) EPS, Q4 2025 earnings at $0.00 EPS, FY2025 earnings at ($0.20) EPS, Q3 2026 earnings at ($0.10) EPS and FY2026 earnings at ($0.01) EPS.

Separately, HC Wainwright restated a “buy” rating and set a $7.00 price objective on shares of WidePoint in a research report on Thursday, November 14th.

WidePoint Stock Down 6.3 %

Shares of WidePoint stock opened at $4.73 on Wednesday. The firm has a market capitalization of $46.35 million, a PE ratio of -15.26 and a beta of 1.65. WidePoint has a 12 month low of $1.65 and a 12 month high of $5.31. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.27.

Hedge Funds Weigh In On WidePoint

Hedge funds have recently added to or reduced their stakes in the company. Summit Financial Strategies Inc. lifted its holdings in WidePoint by 170.5% in the 2nd quarter. Summit Financial Strategies Inc. now owns 103,068 shares of the technology company’s stock worth $432,000 after purchasing an additional 64,963 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of WidePoint by 41.8% in the second quarter. Dimensional Fund Advisors LP now owns 61,058 shares of the technology company’s stock valued at $256,000 after purchasing an additional 17,991 shares during the period. Finally, Essex Investment Management Co. LLC lifted its stake 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 worth $163,000 after buying an additional 14,582 shares during the last quarter. Institutional investors and hedge funds own 22.60% of the company’s stock.

Insider Transactions at WidePoint

In other news, CFO Robert J. George sold 9,000 shares of WidePoint 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 sale, the chief financial officer now directly owns 115,474 shares in the company, valued at $407,623.22. The trade was a 7.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders have purchased 5,000 shares of company stock valued at $17,000 and have sold 10,750 shares valued at $38,033. 14.60% of the stock is currently owned by company insiders.

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.