WidePoint (NYSEAMERICAN:WYY) Stock Rating Upgraded by Zacks Research

WidePoint (NYSEAMERICAN:WYY) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Wednesday,Zacks.com reports.

Separately, HC Wainwright restated a “buy” rating and set a $9.00 price objective on shares of WidePoint in a research report on Monday, March 30th. One research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to MarketBeat, WidePoint currently has an average rating of “Buy” and an average price target of $8.67.

WidePoint Stock Performance

NYSEAMERICAN WYY opened at $15.92 on Wednesday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $157.45 million, a price-to-earnings ratio of -79.60 and a beta of 1.71. The firm’s 50 day simple moving average is $11.02 and its 200 day simple moving average is $7.44. WidePoint has a 1 year low of $2.80 and a 1 year high of $24.30.

WidePoint (NYSEAMERICAN:WYY) last announced its quarterly earnings data on Thursday, May 14th. The technology company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.12) by $0.13. The business had revenue of $40.58 million during the quarter, compared to the consensus estimate of $37.87 million. WidePoint had a negative net margin of 1.24% and a negative return on equity of 16.24%. As a group, research analysts expect that WidePoint will post 0.04 earnings per share for the current fiscal year.

Insider Buying and Selling at WidePoint

In other WidePoint news, CFO Robert J. George sold 16,882 shares of the company’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $16.16, for a total value of $272,813.12. Following the sale, the chief financial officer owned 19,842 shares in the company, valued at approximately $320,646.72. The trade was a 45.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Todd Dzyak sold 10,000 shares of the stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $24.00, for a total value of $240,000.00. Following the completion of the sale, the chief operating officer directly owned 115,436 shares of the company’s stock, valued at approximately $2,770,464. The trade was a 7.97% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 62,745 shares of company stock worth $1,056,944. 16.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On WidePoint

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

WidePoint Company Profile

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.