HC Wainwright Reiterates “Buy” Rating for WidePoint (NYSEAMERICAN:WYY)

WidePoint (NYSEAMERICAN:WYY)‘s stock had its “buy” rating reaffirmed by research analysts at HC Wainwright in a report released on Thursday,Benzinga reports. They currently have a $7.00 price target on the technology company’s stock. HC Wainwright’s price objective points to a potential upside of 143.90% from the company’s previous close. HC Wainwright also issued estimates for WidePoint’s Q1 2025 earnings at ($0.01) EPS and Q4 2025 earnings at $0.01 EPS.

Separately, StockNews.com started coverage on WidePoint in a research note on Wednesday. They issued a “hold” rating for the company.

WidePoint Stock Performance

NYSEAMERICAN WYY opened at $2.87 on Thursday. The company has a fifty day moving average of $3.46 and a two-hundred day moving average of $3.92. The company has a market capitalization of $28.13 million, a PE ratio of -9.26 and a beta of 1.70. WidePoint has a 1 year low of $1.83 and a 1 year high of $6.25. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.07 and a quick ratio of 1.07.

Hedge Funds Weigh In On WidePoint

Several hedge funds have recently bought and sold shares of WYY. Jane Street Group LLC purchased a new stake in shares of WidePoint during the fourth quarter worth about $101,000. Dimensional Fund Advisors LP raised its holdings in WidePoint by 9.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 81,372 shares of the technology company’s stock valued at $394,000 after acquiring an additional 7,331 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of WidePoint by 121.6% during the 4th quarter. Renaissance Technologies LLC now owns 184,400 shares of the technology company’s stock worth $892,000 after purchasing an additional 101,176 shares during the period. Geode Capital Management LLC grew its position in shares of WidePoint by 4.9% in the fourth quarter. Geode Capital Management LLC now owns 74,990 shares of the technology company’s stock valued at $363,000 after purchasing an additional 3,497 shares during the period. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in WidePoint in the 4th quarter valued at about $75,000. 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. 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.