WidePoint (NYSEAMERICAN:WYY) Upgraded at Zacks Research

WidePoint (NYSEAMERICAN:WYY) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Thursday,Zacks.com reports.

Separately, HC Wainwright restated a “buy” rating and set a $9.00 price objective on shares of WidePoint in a research note on Monday, March 30th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $8.67.

WidePoint Stock Up 3.8%

WidePoint stock opened at $11.29 on Thursday. The firm has a market capitalization of $111.66 million, a PE ratio of -56.45 and a beta of 1.59. The company’s 50-day moving average is $6.81 and its 200-day moving average is $6.21. WidePoint has a fifty-two week low of $2.80 and a fifty-two week high of $11.44. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.04 and a quick ratio of 1.04.

WidePoint (NYSEAMERICAN:WYY) last released its quarterly earnings data on Thursday, May 14th. The technology company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.13. The company had revenue of $40.58 million for the quarter, compared to analyst estimates of $37.87 million. WidePoint had a negative net margin of 1.24% and a negative return on equity of 16.24%. Sell-side analysts anticipate that WidePoint will post -0.06 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in WidePoint by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 376,513 shares of the technology company’s stock valued at $1,862,000 after buying an additional 8,850 shares during the last quarter. Potomac Capital Management Inc. acquired a new position in WidePoint in the 4th quarter valued at about $1,051,000. Renaissance Technologies LLC grew its stake in WidePoint by 3.0% in the 4th quarter. Renaissance Technologies LLC now owns 132,098 shares of the technology company’s stock valued at $709,000 after buying an additional 3,898 shares during the last quarter. Informed Momentum Co LLC acquired a new position in WidePoint in the 4th quarter valued at about $527,000. Finally, Geode Capital Management LLC grew its stake in WidePoint by 4.5% in the 4th quarter. Geode Capital Management LLC now owns 85,777 shares of the technology company’s stock valued at $461,000 after buying an additional 3,675 shares during the last quarter. Institutional investors and hedge funds 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.