WidePoint (NYSEAMERICAN:WYY) Given “Buy” Rating at HC Wainwright

WidePoint (NYSEAMERICAN:WYY)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a research note issued on Thursday,Benzinga reports. They currently have a $7.00 target price on the technology company’s stock. HC Wainwright’s target price points to a potential upside of 73.70% from the stock’s previous close.

WidePoint Price Performance

Shares of WYY opened at $4.03 on Thursday. WidePoint has a one year low of $1.65 and a one year high of $4.55. 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 company has a market capitalization of $38.89 million, a PE ratio of -10.89 and a beta of 1.65.

WidePoint (NYSEAMERICAN:WYY) last posted its quarterly earnings results on Wednesday, August 14th. The technology company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.03. WidePoint had a negative return on equity of 23.31% and a negative net margin of 2.74%. The business had revenue of $36.04 million for the quarter, compared to analyst estimates of $29.64 million. On average, sell-side analysts predict that WidePoint will post -0.28 EPS for the current fiscal year.

Insider Transactions at WidePoint

In other WidePoint news, CFO Robert J. George sold 9,000 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were 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 in the company, valued at $407,623.22. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last quarter, insiders have bought 5,000 shares of company stock worth $17,000 and have sold 14,750 shares worth $52,833. 14.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. 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 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 worth $256,000 after purchasing an additional 17,991 shares during the last quarter. Finally, Summit Financial Strategies Inc. increased its holdings in WidePoint by 170.5% in the second quarter. Summit Financial Strategies Inc. now owns 103,068 shares of the technology company’s stock valued at $432,000 after purchasing an additional 64,963 shares during the period. 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.