Zacks Investment Research downgraded shares of WidePoint Co. (NYSEAMERICAN:WYY) from a hold rating to a sell rating in a report released on Saturday morning.
According to Zacks, “WidePoint is a technology-based provider of products and services to the government sector and commercial markets. WidePoint specializes in providing systems engineering, integration and information technology services. WidePoint’s wholly owned subsidiary, ORC, is at the forefront of implementing government-compliant eAuthentication identity management managed services and associated systems engineering/integration. ORC has earned four major U.S. federal government certifications offering the highest levels of assurance for transactions over the Internet. WidePoint’s profile of customers encompasses U.S. Federal Government agencies, including the Department of Defense, the Department of Homeland Security and the Department of Justice as well as major U.S. defense contractors and several major pharmaceutical companies. “
Several other equities analysts have also recently weighed in on the stock. B. Riley reiterated a buy rating and issued a $1.00 price objective on shares of WidePoint in a research note on Wednesday, November 8th. ValuEngine lowered shares of WidePoint from a hold rating to a sell rating in a research note on Friday, September 1st.
WidePoint (NYSEAMERICAN:WYY) opened at $0.58 on Friday. WidePoint has a 1 year low of $0.39 and a 1 year high of $0.96.
WidePoint (NYSEAMERICAN:WYY) last announced its quarterly earnings results on Monday, August 14th. The technology company reported ($0.02) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.01). WidePoint had a negative net margin of 6.89% and a negative return on equity of 19.55%. The business had revenue of $18.88 million during the quarter, compared to the consensus estimate of $18.60 million. During the same period in the previous year, the business posted ($0.01) EPS.
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In other WidePoint news, Director Steve L. Komar acquired 50,000 shares of WidePoint stock in a transaction that occurred on Monday, August 28th. The stock was acquired at an average cost of $0.54 per share, for a total transaction of $27,000.00. Following the purchase, the director now owns 1,303,887 shares of the company’s stock, valued at $704,098.98. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
A hedge fund recently raised its stake in WidePoint stock. Intellectus Partners LLC boosted its holdings in WidePoint Co. (NYSEAMERICAN:WYY) by 2.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 237,855 shares of the technology company’s stock after purchasing an additional 5,000 shares during the period. Intellectus Partners LLC owned approximately 0.29% of WidePoint worth $109,000 at the end of the most recent reporting period.
WidePoint Company Profile
WidePoint Corporation is a provider of information technology (IT)-based products, services and solutions. The Company offers secure, cloud-based, enterprise-wide IT-based solutions that enable commercial markets, and federal and state government organizations, to deploy fully compliant IT services in accordance with government-mandated regulations and advanced system requirements.
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