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

Investment analysts at HC Wainwright assumed coverage on shares of WidePoint (NYSEAMERICAN:WYY) in a research note issued to investors on Thursday, Benzinga reports. The firm set a “buy” rating and a $7.00 price target on the technology company’s stock. HC Wainwright’s price target would suggest a potential upside of 90.22% from the company’s previous close.

WidePoint Stock Down 1.1 %

NYSEAMERICAN:WYY opened at $3.68 on Thursday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a market capitalization of $35.51 million, a P/E ratio of -9.95 and a beta of 1.65. WidePoint has a 52-week low of $1.61 and a 52-week high of $4.55.

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

Insiders Place Their Bets

In other WidePoint news, CFO Robert J. George sold 9,000 shares of the business’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 transaction of $31,770.00. Following the transaction, the chief financial officer now owns 115,474 shares of the company’s stock, valued at $407,623.22. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have acquired 5,000 shares of company stock valued at $17,000 and have sold 14,750 shares valued at $52,833. Company insiders own 14.60% of the company’s stock.

Institutional Investors Weigh In On WidePoint

A number of institutional investors have recently made changes to their positions in the company. Summit Financial Strategies Inc. boosted its holdings in shares of WidePoint by 170.5% during 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 during the period. Dimensional Fund Advisors LP boosted its stake 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 buying an additional 17,991 shares during the period. Finally, Essex Investment Management Co. LLC boosted 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 valued at $163,000 after buying an additional 14,582 shares during the period. Institutional investors own 22.60% of the company’s stock.

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.