WidePoint’s (WYY) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of WidePoint (NYSEAMERICAN:WYY) in a report released on Thursday,Benzinga reports. They currently have a $7.00 price objective on the technology company’s stock.

WidePoint Trading Down 1.1 %

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

Insider Buying and Selling at WidePoint

In related news, CFO Robert J. George sold 9,000 shares of WidePoint 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 transaction, the chief financial officer now directly owns 115,474 shares of the company’s stock, valued at $407,623.22. The trade was a 7.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders acquired 5,000 shares of company stock worth $17,000 and sold 14,750 shares worth $52,833. Corporate insiders own 14.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Essex Investment Management Co. LLC boosted its stake in shares of 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 last quarter. Dimensional Fund Advisors LP lifted its holdings in WidePoint by 41.8% in the second quarter. Dimensional Fund Advisors LP now owns 61,058 shares of the technology company’s stock valued at $256,000 after buying an additional 17,991 shares during the period. Finally, 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. 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.