WidePoint (NYSEAMERICAN:WYY) Research Coverage Started at HC Wainwright

HC Wainwright initiated coverage on shares of WidePoint (NYSEAMERICAN:WYY) in a research note published on Thursday, MarketBeat reports. The firm issued a buy rating and a $7.00 price target on the technology company’s stock.

WidePoint Stock Performance

NYSEAMERICAN WYY opened at $3.55 on Thursday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $34.26 million, a price-to-earnings ratio of -9.59 and a beta of 1.65. WidePoint has a one year low of $1.61 and a one year high of $4.55.

WidePoint (NYSEAMERICAN:WYY) last issued its quarterly earnings results on Wednesday, August 14th. The technology company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. WidePoint had a negative net margin of 2.74% and a negative return on equity of 23.31%. The business had revenue of $36.04 million for the quarter, compared to analyst estimates of $29.64 million. As a group, research analysts expect that WidePoint will post -0.23 earnings per share for the current year.

Insiders Place Their Bets

In other WidePoint news, CFO Robert J. George sold 9,000 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were 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 approximately $407,623.22. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Over the last three months, insiders have purchased 5,000 shares of company stock worth $17,000 and have sold 14,750 shares worth $52,833. 14.60% of the stock is currently owned by company insiders.

Institutional Trading of WidePoint

Several institutional investors and hedge funds have recently modified their holdings of the business. Essex Investment Management Co. LLC increased its position in WidePoint by 46.2% during the third 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 last quarter. Dimensional Fund Advisors LP increased 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 worth $256,000 after acquiring an additional 17,991 shares in the last quarter. Finally, Summit Financial Strategies Inc. increased its position 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 worth $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.

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.