WidePoint (NYSEAMERICAN:WYY) Shares Up 0.9% – Should You Buy?

WidePoint Co. (NYSEAMERICAN:WYY) shot up 0.9% on Wednesday . The stock traded as high as $5.74 and last traded at $5.58. 61,497 shares changed hands during mid-day trading, a decline of 23% from the average session volume of 79,954 shares. The stock had previously closed at $5.53.

Wall Street Analyst Weigh In

Separately, HC Wainwright reiterated a “buy” rating and set a $7.00 price objective on shares of WidePoint in a report on Thursday, November 14th.

WidePoint Trading Down 0.5 %

The stock has a market cap of $54.59 million, a P/E ratio of -17.97 and a beta of 1.72. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.07 and a current ratio of 1.07.

Insider Activity at WidePoint

In other WidePoint news, CFO Robert J. George sold 9,000 shares of WidePoint stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $3.53, for a total transaction of $31,770.00. Following the completion of the sale, the chief financial officer now owns 115,474 shares of the company’s stock, valued at approximately $407,623.22. The trade was a 7.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have acquired 5,000 shares of company stock valued at $17,000 in the last ninety days. Corporate insiders own 14.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Essex Investment Management Co. LLC raised its holdings in shares of 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 raised its stake 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 valued at $256,000 after buying an additional 17,991 shares during the last quarter. Finally, Summit Financial Strategies Inc. lifted its holdings in shares of WidePoint by 170.5% in the 2nd quarter. Summit Financial Strategies Inc. now owns 103,068 shares of the technology company’s stock valued at $432,000 after buying an additional 64,963 shares during the period. 22.60% of the stock is currently owned by hedge funds and other 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.