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

HC Wainwright initiated coverage on shares of WidePoint (NYSEAMERICAN:WYY) in a research note issued 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 target price would suggest a potential upside of 90.22% from the company’s previous close.

WidePoint Trading Down 1.1 %

Shares of WYY stock opened at $3.68 on Thursday. WidePoint has a 1 year low of $1.61 and a 1 year high of $4.55. The company has a market capitalization of $35.51 million, a P/E ratio of -9.95 and a beta of 1.65. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.06 and a quick ratio of 1.06.

WidePoint (NYSEAMERICAN:WYY) last announced its quarterly earnings data on Wednesday, August 14th. The technology company reported ($0.05) EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $29.64 million. On average, equities research analysts expect that WidePoint will post -0.23 earnings per share for the current year.

Insider Activity at WidePoint

In related news, CFO Robert J. George sold 9,000 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $3.53, for a total value of $31,770.00. Following the completion of the sale, the chief financial officer now directly owns 115,474 shares in the company, valued at $407,623.22. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last three months, insiders purchased 5,000 shares of company stock worth $17,000 and sold 14,750 shares worth $52,833. 14.60% of the stock is currently owned by company insiders.

Institutional Trading of WidePoint

A number of institutional investors have recently bought and sold shares of the company. Summit Financial Strategies Inc. boosted its position in WidePoint by 170.5% during the second quarter. Summit Financial Strategies Inc. now owns 103,068 shares of the technology company’s stock valued at $432,000 after acquiring an additional 64,963 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in WidePoint by 41.8% during the second quarter. Dimensional Fund Advisors LP now owns 61,058 shares of the technology company’s stock valued at $256,000 after acquiring an additional 17,991 shares during the last quarter. Finally, Essex Investment Management Co. LLC boosted 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 valued at $163,000 after acquiring an additional 14,582 shares during the last quarter. 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.