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

Posted by on Aug 12th, 2023

StockNews.com assumed coverage on shares of WidePoint (NYSEAMERICAN:WYY – Get Free Report) in a research report issued to clients and investors on Thursday. The firm set a “sell” rating on the technology company’s stock.

WidePoint Stock Performance

Shares of NYSEAMERICAN WYY opened at $1.80 on Thursday. WidePoint has a 1 year low of $1.70 and a 1 year high of $3.05. The firm’s 50 day moving average price is $1.87 and its 200 day moving average price is $1.93. The firm has a market cap of $15.72 million, a P/E ratio of -1.03 and a beta of 1.04.

WidePoint (NYSEAMERICAN:WYY – Get Free Report) last announced its quarterly earnings results on Monday, May 15th. The technology company reported ($0.11) earnings per share for the quarter. The company had revenue of $25.27 million during the quarter. WidePoint had a negative net margin of 16.03% and a positive return on equity of 2.98%.

Institutional Investors Weigh In On WidePoint

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Citadel Advisors LLC increased its stake in WidePoint by 121.1% during the 3rd quarter. Citadel Advisors LLC now owns 13,577 shares of the technology company’s stock worth $29,000 after buying an additional 7,437 shares during the period. UBS Group AG bought a new stake in shares of WidePoint in the 1st quarter worth about $29,000. Dimensional Fund Advisors LP increased its position in shares of WidePoint by 27.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 43,483 shares of the technology company’s stock worth $79,000 after purchasing an additional 9,377 shares during the last quarter. Summit Financial Strategies Inc. increased its position in shares of WidePoint by 49.8% in the 2nd quarter. Summit Financial Strategies Inc. now owns 36,487 shares of the technology company’s stock worth $68,000 after purchasing an additional 12,125 shares during the last quarter. Finally, Susquehanna International Group LLP bought a new stake in shares of WidePoint in the 1st quarter worth about $25,000. Hedge funds and other institutional investors own 11.85% of the company’s stock.

About WidePoint

(Get Free Report)

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.

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