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

Stock analysts at StockNews.com initiated coverage on shares of WidePoint (NYSEAMERICAN:WYY) in a research report issued on Wednesday. The firm set a “sell” rating on the technology company’s stock.

WidePoint Price Performance

Shares of WYY stock opened at $2.10 on Wednesday. The business has a fifty day simple moving average of $1.85. WidePoint has a 52 week low of $1.60 and a 52 week high of $3.49. The stock has a market capitalization of $18.56 million, a price-to-earnings ratio of -4.57 and a beta of 1.33.

WidePoint (NYSEAMERICAN:WYY) last announced its quarterly earnings results on Tuesday, March 26th. The technology company reported ($0.15) EPS for the quarter. WidePoint had a negative return on equity of 25.50% and a negative net margin of 3.82%. The business had revenue of $28.26 million during the quarter.

Hedge Funds Weigh In On WidePoint

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in WidePoint by 9.6% in the 3rd quarter. Vanguard Group Inc. now owns 390,757 shares of the technology company’s stock worth $833,000 after buying an additional 34,072 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of WidePoint by 27.5% during 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. Renaissance Technologies LLC purchased a new stake in shares of WidePoint during the 2nd quarter valued at about $37,000. UBS Group AG purchased a new stake in shares of WidePoint during the 1st quarter valued at about $29,000. Finally, Citadel Advisors LLC increased its position in shares of WidePoint by 121.1% during the 3rd quarter. Citadel Advisors LLC now owns 13,577 shares of the technology company’s stock valued at $29,000 after purchasing an additional 7,437 shares during the last quarter. Hedge funds and other institutional investors own 22.60% of the company’s stock.

WidePoint Company Profile

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.