WidePoint Co. (NYSEMKT:WYY) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released on Wednesday.
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. “
Separately, B. Riley restated a “buy” rating and issued a $1.50 target price on shares of WidePoint in a research note on Monday, November 14th.
Shares of WidePoint (NYSEMKT:WYY) traded down 5.1647% during mid-day trading on Wednesday, reaching $0.8061. 234,600 shares of the company’s stock traded hands. WidePoint has a 12-month low of $0.37 and a 12-month high of $0.96. The stock has a 50-day moving average price of $0.77 and a 200 day moving average price of $0.57. The firm’s market capitalization is $66.69 million.
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In other news, CFO James T. Mccubbin sold 150,000 shares of the company’s stock in a transaction that occurred on Thursday, December 22nd. The shares were sold at an average price of $0.77, for a total value of $115,500.00. Following the completion of the sale, the chief financial officer now owns 1,768,126 shares of the company’s stock, valued at approximately $1,361,457.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
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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