WidePoint (NYSEAMERICAN:WYY) Downgraded to Strong Sell Rating by Zacks Research

Zacks Research lowered shares of WidePoint (NYSEAMERICAN:WYY) from a hold rating to a strong sell rating in a research note published on Monday,Zacks.com reports.

Separately, HC Wainwright reissued a “buy” rating and issued a $9.00 price objective on shares of WidePoint in a research report on Monday. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, WidePoint has an average rating of “Moderate Buy” and an average price target of $8.67.

WidePoint Trading Up 7.3%

NYSEAMERICAN WYY opened at $4.99 on Monday. The company’s fifty day simple moving average is $5.27 and its 200-day simple moving average is $5.83. WidePoint has a 52 week low of $2.19 and a 52 week high of $7.55. The stock has a market cap of $49.25 million, a P/E ratio of -17.21 and a beta of 1.46.

WidePoint (NYSEAMERICAN:WYY) last announced its earnings results on Wednesday, March 25th. The technology company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.08). WidePoint had a negative net margin of 1.83% and a negative return on equity of 22.35%. The firm had revenue of $42.32 million during the quarter, compared to analysts’ expectations of $40.28 million. On average, research analysts expect that WidePoint will post -0.26 EPS for the current fiscal year.

Hedge Funds Weigh In On WidePoint

Institutional investors and hedge funds have recently made changes to their positions in the business. Potomac Capital Management Inc. acquired a new stake in shares of WidePoint during the fourth quarter worth approximately $1,051,000. Informed Momentum Co LLC acquired a new stake in WidePoint in the fourth quarter valued at $527,000. NewEdge Advisors LLC raised its holdings in WidePoint by 194.5% in the fourth quarter. NewEdge Advisors LLC now owns 46,028 shares of the technology company’s stock valued at $247,000 after acquiring an additional 30,397 shares in the last quarter. O Shaughnessy Asset Management LLC bought a new position in WidePoint during the 4th quarter valued at $152,000. Finally, Bridgeway Capital Management LLC boosted its stake in WidePoint by 87.6% during the 2nd quarter. Bridgeway Capital Management LLC now owns 60,527 shares of the technology company’s stock valued at $207,000 after acquiring an additional 28,269 shares during the last quarter. 22.60% of the stock is currently owned by hedge funds and other institutional investors.

About WidePoint

WidePoint Corporation (NYSE American: WYY) is a provider of secure mobility management and identity management solutions. Headquartered in Reston, Virginia, the company delivers a range of managed services designed to help organizations control and secure their telecommunications and IT environments. Since its inception in the late 1990s, WidePoint has focused on helping businesses and government agencies optimize their mobile device portfolios and ensure regulatory compliance.

WidePoint’s core offerings include mobile device management, telecom expense management, and unified endpoint security.