WidePoint’s (WYY) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of WidePoint (NYSEAMERICAN:WYY) in a report released on Monday,Benzinga reports. The brokerage currently has a $9.00 price target on the technology company’s stock.

WidePoint Price Performance

Shares of NYSEAMERICAN WYY opened at $4.65 on Monday. WidePoint has a 1 year low of $2.19 and a 1 year high of $7.55. The firm has a 50-day simple moving average of $5.31 and a two-hundred day simple moving average of $5.83. The company has a market cap of $45.90 million, a P/E ratio of -16.03 and a beta of 1.47.

Hedge Funds Weigh In On WidePoint

Several institutional investors have recently made changes to their positions in WYY. Vanguard Group Inc. raised its holdings in shares of WidePoint by 2.4% in the third quarter. Vanguard Group Inc. now owns 376,513 shares of the technology company’s stock valued at $1,862,000 after acquiring an additional 8,850 shares in the last quarter. Potomac Capital Management Inc. bought a new position in WidePoint during the 4th quarter worth about $1,051,000. Renaissance Technologies LLC grew its holdings in WidePoint by 3.0% during the 4th quarter. Renaissance Technologies LLC now owns 132,098 shares of the technology company’s stock worth $709,000 after acquiring an additional 3,898 shares in the last quarter. Informed Momentum Co LLC bought a new position in WidePoint during the 4th quarter worth about $527,000. Finally, Geode Capital Management LLC increased its position in WidePoint by 4.5% during the 4th quarter. Geode Capital Management LLC now owns 85,777 shares of the technology company’s stock valued at $461,000 after purchasing an additional 3,675 shares during the period. Hedge funds and other institutional investors own 22.60% of the company’s stock.

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.