Zacks Investment Research Upgrades WidePoint Co. (NYSEMKT:WYY) to Hold

Zacks Investment Research upgraded shares of WidePoint Co. (NYSEMKT:WYY) from a sell rating to a hold rating in a research note published on Wednesday, October 18th.

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. “

A number of other research firms have also issued reports on WYY. ValuEngine raised WidePoint from a sell rating to a hold rating in a report on Saturday, August 26th. B. Riley reissued a buy rating and issued a $1.00 target price on shares of WidePoint in a report on Monday, August 21st.

WidePoint (NYSEMKT WYY) traded up $0.00 during mid-day trading on Wednesday, reaching $0.56. The company had a trading volume of 192,902 shares, compared to its average volume of 128,258. WidePoint has a 12-month low of $0.39 and a 12-month high of $0.96.

WidePoint (NYSEMKT:WYY) last posted its earnings results on Monday, August 14th. The technology company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.01). The business had revenue of $18.88 million for the quarter, compared to analysts’ expectations of $18.60 million. WidePoint had a negative return on equity of 19.55% and a negative net margin of 6.89%. During the same quarter in the previous year, the firm earned ($0.01) EPS.

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In other WidePoint news, Director Steve L. Komar acquired 50,000 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The shares were purchased at an average price of $0.54 per share, with a total value of $27,000.00. Following the completion of the acquisition, the director now directly owns 1,303,887 shares of the company’s stock, valued at approximately $704,098.98. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

A hedge fund recently raised its stake in WidePoint stock. Intellectus Partners LLC grew its stake in WidePoint Co. (NYSEMKT:WYY) by 2.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 237,855 shares of the technology company’s stock after acquiring an additional 5,000 shares during the quarter. Intellectus Partners LLC owned about 0.29% of WidePoint worth $109,000 at the end of the most recent quarter.

About WidePoint

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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