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

WidePoint (NYSEAMERICAN:WYY) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Thursday,Zacks.com reports.

Separately, HC Wainwright restated a “buy” rating and set a $9.00 price objective on shares of WidePoint in a report on Monday, March 30th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.67.

WidePoint Price Performance

WYY stock opened at $11.29 on Thursday. WidePoint has a 52-week low of $2.80 and a 52-week high of $11.44. The stock’s fifty day simple moving average is $6.81 and its 200-day simple moving average is $6.21. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $111.66 million, a price-to-earnings ratio of -56.45 and a beta of 1.59.

WidePoint (NYSEAMERICAN:WYY) last posted its quarterly earnings data on Thursday, May 14th. The technology company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.13. WidePoint had a negative return on equity of 16.24% and a negative net margin of 1.24%.The business had revenue of $40.58 million for the quarter, compared to analysts’ expectations of $37.87 million. Equities research analysts expect that WidePoint will post -0.06 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. State Street Corp raised its position in shares of WidePoint by 9.7% in the 4th quarter. State Street Corp now owns 27,153 shares of the technology company’s stock worth $146,000 after buying an additional 2,400 shares during the period. Geode Capital Management LLC raised its position in shares of WidePoint by 4.5% in the 4th quarter. Geode Capital Management LLC now owns 85,777 shares of the technology company’s stock worth $461,000 after buying an additional 3,675 shares during the period. Renaissance Technologies LLC raised its position in shares of WidePoint by 3.0% in the 4th quarter. Renaissance Technologies LLC now owns 132,098 shares of the technology company’s stock worth $709,000 after buying an additional 3,898 shares during the period. Royal Bank of Canada raised its position in shares of WidePoint by 19,130.8% in the 1st quarter. Royal Bank of Canada now owns 5,000 shares of the technology company’s stock worth $25,000 after buying an additional 4,974 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of WidePoint by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 376,513 shares of the technology company’s stock worth $1,862,000 after buying an additional 8,850 shares during the period. 22.60% of the stock is owned by hedge funds and other institutional investors.

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.