StockNews.com Begins Coverage on WidePoint (NYSEAMERICAN:WYY)

StockNews.com assumed coverage on shares of WidePoint (NYSEAMERICAN:WYY) in a research note published on Sunday. The firm issued a sell rating on the technology company’s stock.

WidePoint Trading Down 3.4 %

Shares of WYY stock opened at $2.52 on Friday. The firm has a fifty day simple moving average of $1.86. The firm has a market cap of $22.28 million, a PE ratio of -1.89 and a beta of 1.33. WidePoint has a 52-week low of $1.60 and a 52-week high of $3.49.

WidePoint (NYSEAMERICAN:WYY) last issued its earnings results on Tuesday, March 26th. The technology company reported ($0.15) earnings per share (EPS) for the quarter. The company had revenue of $28.26 million during the quarter. WidePoint had a negative return on equity of 69.76% and a negative net margin of 11.48%.

Institutional Investors Weigh In On WidePoint

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Susquehanna International Group LLP acquired a new stake in shares of WidePoint in the 1st quarter valued at $25,000. UBS Group AG acquired a new stake in WidePoint in the first quarter worth about $29,000. Citadel Advisors LLC raised its holdings in WidePoint by 121.1% during the 3rd quarter. Citadel Advisors LLC now owns 13,577 shares of the technology company’s stock worth $29,000 after purchasing an additional 7,437 shares during the last quarter. Renaissance Technologies LLC acquired a new position in WidePoint during the 2nd quarter valued at about $37,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of WidePoint by 27.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 43,483 shares of the technology company’s stock valued at $79,000 after purchasing an additional 9,377 shares during the last quarter. Institutional investors and hedge funds own 22.60% of the company’s stock.

About WidePoint

WidePoint Corporation provides technology management as a service (TMaaS) to the government and business enterprises in North America and Europe. The company offers TMaaS solutions through a secure federal government certified proprietary portal and secure enterprise portal that provides ability to manage, analyze, and protect communications assets, as well as deploy identity management solutions that provide secured virtual and physical access to restricted environments.