WidePoint (NYSEAMERICAN:WYY) Given Buy Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of WidePoint (NYSEAMERICAN:WYY) in a research note published on Thursday morning,Benzinga reports. HC Wainwright currently has a $7.00 price target on the technology company’s stock.

WidePoint Price Performance

Shares of NYSEAMERICAN WYY opened at $3.71 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.06 and a current ratio of 1.07. The firm has a market cap of $36.36 million, a P/E ratio of -11.97 and a beta of 1.65. WidePoint has a 12-month low of $1.65 and a 12-month high of $4.55.

Insider Activity at WidePoint

In other WidePoint news, CFO Robert J. George sold 9,000 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $3.53, for a total transaction of $31,770.00. Following the transaction, the chief financial officer now owns 115,474 shares in the company, valued at approximately $407,623.22. This represents a 7.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last three months, insiders bought 5,000 shares of company stock valued at $17,000 and sold 14,750 shares valued at $52,833. 14.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On WidePoint

Several hedge funds and other institutional investors have recently made changes to their positions in WYY. Essex Investment Management Co. LLC lifted its position in WidePoint by 46.2% in the 3rd quarter. Essex Investment Management Co. LLC now owns 46,152 shares of the technology company’s stock valued at $163,000 after acquiring an additional 14,582 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of WidePoint by 41.8% in the second quarter. Dimensional Fund Advisors LP now owns 61,058 shares of the technology company’s stock worth $256,000 after purchasing an additional 17,991 shares during the last quarter. Finally, Summit Financial Strategies Inc. lifted its holdings in shares of WidePoint by 170.5% in the second quarter. Summit Financial Strategies Inc. now owns 103,068 shares of the technology company’s stock valued at $432,000 after purchasing an additional 64,963 shares in the last quarter. 22.60% of the stock is owned by institutional investors.

WidePoint Company Profile

WidePoint Corporation provides technology management as a service (TMaaS) to the government and business enterprises in North America and Europe. It 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 deploys identity management solutions that provides secured virtual and physical access to restricted environments.