WidePoint (NYSEAMERICAN:WYY) Lowered to “Hold” Rating by Zacks Research

Zacks Research lowered shares of WidePoint (NYSEAMERICAN:WYY) from a strong-buy rating to a hold rating in a research note published on Thursday morning,Zacks.com reports.

WidePoint Stock Down 18.7%

Shares of WidePoint stock opened at $9.45 on Thursday. The business’s fifty day moving average price is $12.73 and its two-hundred day moving average price is $8.60. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market capitalization of $93.46 million, a P/E ratio of -72.69 and a beta of 1.77. WidePoint has a 1-year low of $3.25 and a 1-year high of $24.30.

WidePoint (NYSEAMERICAN:WYY) last announced its quarterly earnings results on Thursday, August 13th. The technology company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.03). WidePoint had a negative return on equity of 10.71% and a negative net margin of 0.81%.The business had revenue of $38.00 million for the quarter, compared to analyst estimates of $41.83 million. As a group, research analysts forecast that WidePoint will post 0.04 EPS for the current year.

Insider Buying and Selling

In related news, CFO Robert J. George sold 16,882 shares of the stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $16.16, for a total value of $272,813.12. Following the completion of the transaction, the chief financial officer owned 19,842 shares in the company, valued at $320,646.72. This represents a 45.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Todd Dzyak sold 5,000 shares of the stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $12.75, for a total transaction of $63,750.00. Following the completion of the transaction, the chief operating officer owned 110,436 shares of the company’s stock, valued at $1,408,059. This represents a 4.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 82,745 shares of company stock valued at $1,355,144 over the last 90 days. 16.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in WYY. Royal Bank of Canada raised its holdings in WidePoint by 19,130.8% during the first quarter. Royal Bank of Canada now owns 5,000 shares of the technology company’s stock worth $25,000 after purchasing an additional 4,974 shares in the last quarter. PNC Financial Services Group Inc. acquired a new stake in WidePoint in the first quarter worth approximately $50,000. Ritholtz Wealth Management acquired a new stake in WidePoint in the fourth quarter worth approximately $79,000. XTX Topco Ltd bought a new position in WidePoint during the 2nd quarter valued at $58,000. Finally, Cassaday & Co Wealth Management LLC bought a new position in WidePoint during the 1st quarter valued at $87,000. 22.60% of the stock is currently owned by institutional investors.

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.