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

Stock analysts at StockNews.com started coverage on shares of WidePoint (NYSEAMERICAN:WYY) in a report released on Monday. The brokerage set a “sell” rating on the technology company’s stock.

WidePoint Price Performance

WidePoint stock opened at $1.94 on Monday. WidePoint has a 12 month low of $1.60 and a 12 month high of $3.49. The firm has a market capitalization of $17.15 million, a price-to-earnings ratio of -4.22 and a beta of 1.33.

WidePoint (NYSEAMERICAN:WYY) last announced its quarterly earnings results on Tuesday, March 26th. The technology company reported ($0.15) EPS for the quarter. The company had revenue of $28.26 million during the quarter. WidePoint had a negative return on equity of 25.50% and a negative net margin of 3.82%.

Institutional Investors Weigh In On WidePoint

A hedge fund recently raised its stake in WidePoint stock. Platform Technology Partners boosted its stake in WidePoint Co. (NYSEAMERICAN:WYY) by 74.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 46,753 shares of the technology company’s stock after purchasing an additional 20,000 shares during the quarter. Platform Technology Partners owned about 0.53% of WidePoint worth $108,000 as of its most recent SEC filing. 22.60% of the stock is 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.