WidePoint (NYSEAMERICAN:WYY) Coverage Initiated at StockNews.com

StockNews.com started coverage on shares of WidePoint (NYSEAMERICAN:WYY) in a research note issued to investors on Friday morning. The brokerage issued a sell rating on the technology company’s stock.

WidePoint Stock Performance

Shares of NYSEAMERICAN:WYY opened at $2.27 on Friday. The firm’s fifty day moving average price is $1.86. WidePoint has a 12-month low of $1.60 and a 12-month high of $3.49. The firm has a market cap of $20.07 million, a P/E ratio of -4.93 and a beta of 1.33.

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

Hedge Funds Weigh In On WidePoint

Several institutional investors and hedge funds have recently modified their holdings of WYY. Vanguard Group Inc. increased its position in WidePoint by 9.6% during the third 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 during the last quarter. Platform Technology Partners lifted its stake in WidePoint by 74.8% during the fourth quarter. Platform Technology Partners now owns 46,753 shares of the technology company’s stock worth $108,000 after purchasing an additional 20,000 shares during the period. Renaissance Technologies LLC bought a new position in WidePoint during the second quarter worth about $37,000. Susquehanna International Group LLP bought a new position in WidePoint during the first quarter worth about $25,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of WidePoint by 27.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 43,483 shares of the technology company’s stock valued at $79,000 after acquiring an additional 9,377 shares during the last quarter. 22.60% of the stock is currently owned by hedge funds and other institutional investors.

About WidePoint

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.