WidePoint (NYSEAMERICAN:WYY) Rating Lowered to Strong Sell at Zacks Research

WidePoint (NYSEAMERICAN:WYY) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Monday,Zacks.com reports.

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $9.00 price target on shares of WidePoint in a report on Monday. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.67.

WidePoint Stock Up 7.3%

WYY opened at $4.99 on Monday. The company has a market cap of $49.25 million, a P/E ratio of -17.21 and a beta of 1.46. The firm’s 50-day moving average price is $5.27 and its 200-day moving average price is $5.83. WidePoint has a 52-week low of $2.19 and a 52-week high of $7.55.

WidePoint (NYSEAMERICAN:WYY) last released its earnings results on Wednesday, March 25th. The technology company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.08). The company had revenue of $42.32 million during the quarter, compared to analyst estimates of $40.28 million. WidePoint had a negative return on equity of 22.35% and a negative net margin of 1.83%. On average, research analysts anticipate that WidePoint will post -0.26 EPS for the current fiscal year.

Institutional Investors Weigh In On WidePoint

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in WidePoint by 2.4% in the third quarter. Vanguard Group Inc. now owns 376,513 shares of the technology company’s stock valued at $1,862,000 after buying an additional 8,850 shares during the last quarter. Renaissance Technologies LLC raised its position in WidePoint by 3.0% during the 4th quarter. Renaissance Technologies LLC now owns 132,098 shares of the technology company’s stock worth $709,000 after buying an additional 3,898 shares during the last quarter. Informed Momentum Co LLC purchased a new position in WidePoint during the 4th quarter worth approximately $527,000. Jane Street Group LLC lifted its stake in WidePoint by 98.6% during the 4th quarter. Jane Street Group LLC now owns 52,751 shares of the technology company’s stock valued at $283,000 after acquiring an additional 26,193 shares during the period. Finally, NewEdge Advisors LLC lifted its stake in WidePoint by 194.5% during the 4th quarter. NewEdge Advisors LLC now owns 46,028 shares of the technology company’s stock valued at $247,000 after acquiring an additional 30,397 shares during the period. Institutional investors and hedge funds own 22.60% of the company’s stock.

WidePoint Company Profile

WidePoint Corporation (NYSE American: WYY) is a provider of secure mobility management and identity management solutions. Headquartered in Reston, Virginia, the company delivers a range of managed services designed to help organizations control and secure their telecommunications and IT environments. Since its inception in the late 1990s, WidePoint has focused on helping businesses and government agencies optimize their mobile device portfolios and ensure regulatory compliance.

WidePoint’s core offerings include mobile device management, telecom expense management, and unified endpoint security.