WidePoint (NYSEAMERICAN:WYY) Receives Buy Rating from Westpark Capital

Westpark Capital reiterated their buy rating on shares of WidePoint (NYSEAMERICAN:WYY) in a research note published on Tuesday,Benzinga reports. The brokerage currently has a $9.00 price target on the technology company’s stock.

Several other analysts also recently commented on WYY. HC Wainwright reissued a “buy” rating and set a $7.00 price objective on shares of WidePoint in a research report on Monday, August 18th. Litchfield Hills Research reissued a “buy” rating and set a $8.00 price objective on shares of WidePoint in a research report on Friday, August 15th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $8.00.

WidePoint Stock Performance

Shares of WYY stock opened at $5.55 on Tuesday. WidePoint has a one year low of $2.19 and a one year high of $6.25. The company’s 50-day moving average is $4.55 and its 200 day moving average is $3.83. The company has a market capitalization of $54.28 million, a price-to-earnings ratio of -25.23 and a beta of 1.84.

Institutional Trading of WidePoint

A number of institutional investors have recently made changes to their positions in the stock. Bridgeway Capital Management LLC boosted its holdings in shares of WidePoint by 87.6% during the 2nd quarter. Bridgeway Capital Management LLC now owns 60,527 shares of the technology company’s stock valued at $207,000 after acquiring an additional 28,269 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of WidePoint in the second quarter worth approximately $87,000. NewEdge Advisors LLC purchased a new position in shares of WidePoint in the second quarter worth approximately $74,000. XTX Topco Ltd purchased a new position in shares of WidePoint in the second quarter worth approximately $58,000. Finally, Cassaday & Co Wealth Management LLC purchased a new position in shares of WidePoint in the second quarter worth approximately $60,000. Hedge funds and other institutional investors 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. 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.