ValuEngine Lowers WidePoint Co. (WYY) to Sell
ValuEngine lowered shares of WidePoint Co. (NYSEMKT:WYY) from a hold rating to a sell rating in a research note issued to investors on Friday.
Several other analysts also recently commented on WYY. B. Riley reaffirmed a buy rating and set a $1.00 price objective on shares of WidePoint in a research note on Friday, May 12th. Zacks Investment Research raised WidePoint from a sell rating to a hold rating in a research note on Thursday, June 1st.
Shares of WidePoint (NYSEMKT:WYY) opened at 0.5699 on Friday. The firm’s market capitalization is $47.27 million. WidePoint has a 12-month low of $0.37 and a 12-month high of $0.96. The company’s 50-day moving average price is $0.46 and its 200 day moving average price is $0.49.
WidePoint (NYSEMKT:WYY) last posted its quarterly earnings data on Monday, August 14th. The technology company reported ($0.02) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by $0.01. The company had revenue of $18.88 million for the quarter, compared to analysts’ expectations of $18.60 million. WidePoint had a negative net margin of 6.89% and a negative return on equity of 19.55%. During the same period in the prior year, the company earned ($0.01) earnings per share. On average, equities research analysts forecast that WidePoint will post ($0.03) EPS for the current fiscal year.
In other WidePoint news, Director Steve L. Komar bought 50,000 shares of the company’s stock in a transaction on Monday, August 28th. The shares were bought at an average price of $0.54 per share, for a total transaction of $27,000.00. Following the transaction, the director now owns 1,303,887 shares of the company’s stock, valued at approximately $704,098.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WYY. Renaissance Technologies LLC increased its position in WidePoint by 71.8% during the 4th quarter. Renaissance Technologies LLC now owns 243,300 shares of the technology company’s stock worth $197,000 after purchasing an additional 101,700 shares during the period. Intellectus Partners LLC increased its position in WidePoint by 2.1% during the 2nd quarter. Intellectus Partners LLC now owns 237,855 shares of the technology company’s stock worth $109,000 after purchasing an additional 5,000 shares during the period. Finally, First Wilshire Securities Management Inc. increased its position in WidePoint by 0.3% during the 1st quarter. First Wilshire Securities Management Inc. now owns 863,171 shares of the technology company’s stock worth $388,000 after purchasing an additional 2,700 shares during the period.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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