WidePoint (NYSEAMERICAN:WYY) Cut to “Strong Sell” at Zacks Research

Zacks Research downgraded shares of WidePoint (NYSEAMERICAN:WYY) from a hold rating to a strong sell rating in a research report sent to investors on Monday,Zacks.com reports.

Separately, HC Wainwright restated a “buy” rating and issued a $9.00 price target on shares of WidePoint in a research note on Monday. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, WidePoint has a consensus rating of “Moderate Buy” and a consensus target price of $8.67.

WidePoint Stock Down 0.2%

WidePoint stock opened at $4.98 on Monday. The stock has a market cap of $49.15 million, a P/E ratio of -17.17 and a beta of 1.45. WidePoint has a twelve month low of $2.19 and a twelve month high of $7.55. The company’s 50-day moving average price is $5.22 and its two-hundred day moving average price is $5.82.

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

Institutional Trading of WidePoint

Several large investors have recently modified their holdings of WYY. Potomac Capital Management Inc. bought a new stake in shares of WidePoint during the 4th quarter worth approximately $1,051,000. Informed Momentum Co LLC bought a new position in WidePoint in the fourth quarter valued at approximately $527,000. NewEdge Advisors LLC increased its stake in WidePoint by 194.5% in the fourth 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 last quarter. O Shaughnessy Asset Management LLC bought a new position in shares of WidePoint in the 4th quarter valued at $152,000. Finally, Bridgeway Capital Management LLC increased its stake in shares of WidePoint by 87.6% in the 2nd quarter. Bridgeway Capital Management LLC now owns 60,527 shares of the technology company’s stock valued at $207,000 after purchasing an additional 28,269 shares during the last quarter. 22.60% of the stock is owned by institutional investors and hedge funds.

About WidePoint

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.