WidePoint (NYSEAMERICAN:WYY) Shares Up 0.9% – What’s Next?

WidePoint Co. (NYSEAMERICAN:WYY) shares shot up 0.9% during trading on Wednesday . The company traded as high as $5.74 and last traded at $5.58. 61,497 shares changed hands during mid-day trading, a decline of 23% from the average session volume of 79,954 shares. The stock had previously closed at $5.53.

Wall Street Analyst Weigh In

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price target on shares of WidePoint in a research note on Thursday, November 14th.

WidePoint Stock Down 0.5 %

The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a market capitalization of $54.59 million, a PE ratio of -17.97 and a beta of 1.72.

Insiders Place Their Bets

In other WidePoint news, CFO Robert J. George sold 9,000 shares of WidePoint stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $3.53, for a total value of $31,770.00. Following the sale, the chief financial officer now directly owns 115,474 shares in the company, valued at approximately $407,623.22. The trade was a 7.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last quarter, insiders acquired 5,000 shares of company stock worth $17,000. Corporate insiders own 14.60% of the company’s stock.

Institutional Trading of WidePoint

Several hedge funds have recently modified their holdings of the company. Essex Investment Management Co. LLC increased its stake in WidePoint by 46.2% during 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 last quarter. 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 worth $256,000 after purchasing an additional 17,991 shares during the period. Finally, Summit Financial Strategies Inc. increased its position in shares of WidePoint by 170.5% during the 2nd quarter. Summit Financial Strategies Inc. now owns 103,068 shares of the technology company’s stock valued at $432,000 after purchasing an additional 64,963 shares during the last quarter. 22.60% of the stock is owned by hedge funds and other institutional investors.

WidePoint Company Profile

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.