WidePoint (NYSEAMERICAN:WYY) Earns “Buy” Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of WidePoint (NYSEAMERICAN:WYY) in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a $7.00 price target on the technology company’s stock.

WidePoint Trading Down 0.8 %

Shares of NYSEAMERICAN:WYY traded down $0.03 during trading on Thursday, hitting $3.72. 8,105 shares of the company’s stock were exchanged, compared to its average volume of 73,532. WidePoint has a 1-year low of $1.65 and a 1-year 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.

WidePoint (NYSEAMERICAN:WYY) last released its quarterly earnings results on Wednesday, August 14th. The technology company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.03. The company had revenue of $36.04 million during the quarter, compared to analysts’ expectations of $29.64 million. WidePoint had a negative net margin of 2.19% and a negative return on equity of 20.35%. On average, sell-side analysts anticipate that WidePoint will post -0.28 EPS for the current fiscal year.

Insiders Place Their Bets

In related 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 value 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 7.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last three months, insiders have bought 5,000 shares of company stock valued at $17,000 and have sold 14,750 shares valued at $52,833. Insiders own 14.60% of the company’s stock.

Institutional Investors Weigh In On WidePoint

Large investors have recently bought and sold shares of the company. Essex Investment Management Co. LLC raised its holdings in WidePoint by 46.2% in the 3rd quarter. Essex Investment Management Co. LLC now owns 46,152 shares of the technology company’s stock valued at $163,000 after buying an additional 14,582 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of WidePoint by 41.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 61,058 shares of the technology company’s stock worth $256,000 after buying an additional 17,991 shares during the period. Finally, Summit Financial Strategies Inc. grew its position 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 buying an additional 64,963 shares during the period. 22.60% of the stock is currently owned by institutional investors and hedge funds.

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.