WidePoint (NYSEAMERICAN:WYY) Coverage Initiated at HC Wainwright

Equities research analysts at HC Wainwright assumed coverage on shares of WidePoint (NYSEAMERICAN:WYY) in a report issued on Thursday, MarketBeat.com reports. The firm set a “buy” rating and a $7.00 price target on the technology company’s stock. HC Wainwright’s price objective would indicate a potential upside of 97.18% from the company’s previous close.

WidePoint Trading Down 0.8 %

Shares of NYSEAMERICAN:WYY opened at $3.55 on Thursday. The firm has a market capitalization of $34.26 million, a price-to-earnings ratio of -9.59 and a beta of 1.65. WidePoint has a fifty-two week low of $1.61 and a fifty-two week high of $4.55. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.28.

WidePoint (NYSEAMERICAN:WYY) last issued its quarterly earnings data on Wednesday, August 14th. The technology company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $36.04 million for the quarter, compared to analyst estimates of $29.64 million. Sell-side analysts predict that WidePoint will post -0.23 EPS for the current year.

Insider Buying and Selling

In related 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 value of $31,770.00. Following the completion of the transaction, the chief financial officer now directly owns 115,474 shares in the company, valued at approximately $407,623.22. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders have acquired 5,000 shares of company stock valued at $17,000 and have sold 14,750 shares valued at $52,833. 14.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On WidePoint

Institutional investors have recently bought and sold shares of the company. Summit Financial Strategies Inc. increased its holdings in 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 buying an additional 64,963 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of WidePoint by 41.8% during 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 period. Finally, Essex Investment Management Co. LLC lifted 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 buying an additional 14,582 shares in the last quarter. 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.