StockNews.com Initiates Coverage on WidePoint (NYSEAMERICAN:WYY)

StockNews.com assumed coverage on shares of WidePoint (NYSEAMERICAN:WYY) in a research note issued on Wednesday. The brokerage set a “hold” rating on the technology company’s stock.

WidePoint Price Performance

Shares of WidePoint stock opened at $3.23 on Wednesday. The company’s fifty day simple moving average is $3.73. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.27. The stock has a market cap of $31.65 million, a price-to-earnings ratio of -10.42 and a beta of 1.70. WidePoint has a 1 year low of $1.83 and a 1 year high of $6.25.

Hedge Funds Weigh In On WidePoint

Several institutional investors and hedge funds have recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership bought a new position in WidePoint during the fourth quarter worth about $75,000. Jane Street Group LLC bought a new position in WidePoint in the 4th quarter worth approximately $101,000. Private Advisor Group LLC grew its stake in WidePoint by 29.2% in the 4th quarter. Private Advisor Group LLC now owns 31,000 shares of the technology company’s stock valued at $150,000 after buying an additional 7,000 shares in the last quarter. Truvestments Capital LLC bought a new stake in WidePoint during the 4th quarter valued at $186,000. Finally, Essex Investment Management Co. LLC boosted its holdings in shares of WidePoint by 9.9% in the fourth quarter. Essex Investment Management Co. LLC now owns 50,699 shares of the technology company’s stock worth $245,000 after acquiring an additional 4,547 shares during the period. 22.60% of the stock is owned by institutional investors.

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.