WidePoint (NYSEAMERICAN:WYY) Receives “Buy” Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of WidePoint (NYSEAMERICAN:WYY) in a report issued on Thursday morning,Benzinga reports. The brokerage currently has a $7.00 price target on the technology company’s stock.

WidePoint Price Performance

Shares of NYSEAMERICAN:WYY traded down $0.03 during trading on Thursday, reaching $3.72. The company had a trading volume of 8,105 shares, compared to its average volume of 73,532. WidePoint has a twelve month low of $1.65 and a twelve month high of $4.55. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.28.

WidePoint (NYSEAMERICAN:WYY) last released its earnings results 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 2.19% and a negative return on equity of 20.35%. The business had revenue of $36.04 million during the quarter, compared to analyst estimates of $29.64 million. On average, research analysts expect that WidePoint will post -0.28 earnings per share for the current year.

Insider Activity

In other WidePoint news, CFO Robert J. George sold 9,000 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $3.53, for a total value of $31,770.00. Following the transaction, the chief financial officer now owns 115,474 shares in the company, valued at approximately $407,623.22. This represents a 7.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, 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 company insiders.

Institutional Trading of WidePoint

Several large investors have recently added to or reduced their stakes in the business. Essex Investment Management Co. LLC boosted 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 purchasing an additional 14,582 shares during the period. Dimensional Fund Advisors LP boosted its holdings in WidePoint by 41.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 61,058 shares of the technology company’s stock valued at $256,000 after purchasing an additional 17,991 shares during the period. Finally, Summit Financial Strategies Inc. lifted its holdings in shares of WidePoint by 170.5% during the 2nd 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. 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.