HC Wainwright Reaffirms “Buy” Rating for WidePoint (NYSEAMERICAN:WYY)

HC Wainwright restated their buy rating on shares of WidePoint (NYSEAMERICAN:WYY) in a research report sent to investors on Thursday,Benzinga reports. The firm currently has a $7.00 price target on the technology company’s stock.

WidePoint Trading Down 1.1 %

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

WidePoint (NYSEAMERICAN:WYY) last posted its earnings results on Wednesday, August 14th. The technology company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.03. The company had revenue of $36.04 million for the quarter, compared to analyst estimates of $29.64 million. WidePoint had a negative return on equity of 20.51% and a negative net margin of 2.19%. As a group, equities analysts anticipate that WidePoint will post -0.28 earnings per share for the current year.

Insiders Place Their Bets

In other WidePoint 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 sale, the chief financial officer now owns 115,474 shares of the company’s stock, valued at approximately $407,623.22. The trade was a 7.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last three months, insiders have bought 5,000 shares of company stock valued at $17,000 and have sold 14,750 shares valued at $52,833. Corporate insiders own 14.60% of the company’s stock.

Institutional Investors Weigh In On WidePoint

Institutional investors and hedge funds have recently made changes to their positions in the stock. Summit Financial Strategies Inc. increased its holdings in WidePoint by 170.5% in the 2nd 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 period. Dimensional Fund Advisors LP boosted its holdings in shares of 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 acquiring an additional 17,991 shares during the last quarter. Finally, Essex Investment Management Co. LLC increased its stake in shares of WidePoint by 46.2% in the third 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 period. 22.60% of the stock is currently owned by institutional investors and hedge funds.

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.