Q3 Earnings Forecast for WidePoint Issued By HC Wainwright

WidePoint Co. (NYSEAMERICAN:WYY) – Research analysts at HC Wainwright issued their Q3 2024 EPS estimates for WidePoint in a research note issued on Thursday, October 24th. HC Wainwright analyst S. Buck anticipates that the technology company will post earnings per share of ($0.07) for the quarter. HC Wainwright currently has a “Buy” rating and a $7.00 price objective on the stock. The consensus estimate for WidePoint’s current full-year earnings is ($0.23) per share. HC Wainwright also issued estimates for WidePoint’s Q4 2024 earnings at ($0.13) EPS, FY2024 earnings at ($0.32) EPS and FY2025 earnings at $0.01 EPS.

WidePoint (NYSEAMERICAN:WYY) last posted its earnings results on Wednesday, August 14th. The technology company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.03. WidePoint had a negative return on equity of 23.31% and a negative net margin of 2.74%. The firm had revenue of $36.04 million for the quarter, compared to analysts’ expectations of $29.64 million.

WidePoint Stock Performance

Shares of NYSEAMERICAN WYY opened at $3.55 on Monday. The stock has a market cap of $34.26 million, a P/E ratio of -9.59 and a beta of 1.65. WidePoint has a fifty-two week low of $1.61 and a fifty-two week high of $4.55. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.28.

Hedge Funds Weigh In On WidePoint

Several hedge funds have recently made changes to their positions in WYY. Essex Investment Management Co. LLC grew its holdings in shares of WidePoint by 46.2% in the 3rd quarter. Essex Investment Management Co. LLC now owns 46,152 shares of the technology company’s stock worth $163,000 after acquiring an additional 14,582 shares during the last quarter. Dimensional Fund Advisors LP boosted its position 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 valued at $256,000 after purchasing an additional 17,991 shares during the period. Finally, Summit Financial Strategies Inc. increased its stake 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 in the last quarter. Institutional investors and hedge funds own 22.60% of the company’s stock.

Insider Buying and Selling at WidePoint

In other WidePoint 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 value 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last 90 days, insiders have purchased 5,000 shares of company stock valued at $17,000 and have sold 14,750 shares valued at $52,833. 14.60% of the stock is owned by corporate insiders.

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.