StockNews.com Begins Coverage on WidePoint (NYSEAMERICAN:WYY)

Investment analysts at StockNews.com initiated coverage on shares of WidePoint (NYSEAMERICAN:WYY) in a note issued to investors on Wednesday. The firm set a “hold” rating on the technology company’s stock.

WidePoint Stock Down 3.7 %

Shares of WYY stock opened at $3.13 on Wednesday. WidePoint has a 52-week low of $1.83 and a 52-week high of $6.25. The firm has a 50-day moving average of $3.72. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a market cap of $30.67 million, a PE ratio of -10.10 and a beta of 1.70.

Hedge Funds Weigh In On WidePoint

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership acquired a new position in WidePoint during the fourth quarter worth $75,000. Jane Street Group LLC acquired a new stake in shares of WidePoint in the fourth quarter valued at about $101,000. Private Advisor Group LLC boosted its holdings in WidePoint by 29.2% during the fourth quarter. Private Advisor Group LLC now owns 31,000 shares of the technology company’s stock worth $150,000 after buying an additional 7,000 shares in the last quarter. Truvestments Capital LLC acquired a new position in WidePoint during the fourth quarter worth about $186,000. Finally, Essex Investment Management Co. LLC increased its holdings in WidePoint by 9.9% in the fourth quarter. Essex Investment Management Co. LLC now owns 50,699 shares of the technology company’s stock valued at $245,000 after buying an additional 4,547 shares in the last quarter. Institutional investors and hedge funds 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.