HC Wainwright Forecasts Increased Earnings for WidePoint

WidePoint Co. (NYSEAMERICAN:WYY) – Equities researchers at HC Wainwright raised their FY2024 EPS estimates for shares of WidePoint in a research note issued to investors on Thursday, November 14th. HC Wainwright analyst S. Buck now forecasts that the technology company will earn ($0.29) per share for the year, up from their prior forecast of ($0.32). HC Wainwright currently has a “Buy” rating and a $7.00 price target on the stock. The consensus estimate for WidePoint’s current full-year earnings is ($0.26) per share. HC Wainwright also issued estimates for WidePoint’s Q4 2024 earnings at ($0.12) EPS and FY2025 earnings at ($0.04) EPS.

WidePoint Trading Down 1.1 %

WidePoint stock opened at $3.71 on Monday. WidePoint has a 12-month low of $1.65 and a 12-month high of $4.55. The company has a quick ratio of 1.06, a current ratio of 1.07 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $36.36 million, a PE ratio of -11.97 and a beta of 1.65.

Hedge Funds Weigh In On WidePoint

A number of hedge funds have recently added to or reduced their stakes in the company. Summit Financial Strategies Inc. raised its stake 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 acquiring an additional 64,963 shares in the last quarter. Dimensional Fund Advisors LP raised 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 worth $256,000 after acquiring an additional 17,991 shares during the period. Finally, Essex Investment Management Co. LLC lifted its position in WidePoint by 46.2% during the 3rd quarter. Essex Investment Management Co. LLC now owns 46,152 shares of the technology company’s stock worth $163,000 after acquiring an additional 14,582 shares during the last quarter. Institutional investors and hedge funds own 22.60% of the company’s stock.

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 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 directly owns 115,474 shares of the company’s stock, valued at approximately $407,623.22. The trade was a 7.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last 90 days, insiders bought 5,000 shares of company stock valued at $17,000 and sold 14,750 shares valued at $52,833. Company insiders own 14.60% 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.