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

Investment analysts at StockNews.com assumed coverage on shares of WidePoint (NYSEAMERICAN:WYY) in a research note issued to investors on Wednesday. The brokerage set a “sell” rating on the technology company’s stock.

WidePoint Trading Down 2.9 %

NYSEAMERICAN WYY opened at $1.98 on Wednesday. The company has a fifty day simple moving average of $1.85. WidePoint has a 12-month low of $1.60 and a 12-month high of $3.49. The firm has a market cap of $17.50 million, a P/E ratio of -4.30 and a beta of 1.33.

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

Institutional Investors Weigh In On WidePoint

Several large investors have recently added to or reduced their stakes in WYY. UBS Group AG purchased a new stake in WidePoint in the 1st quarter worth about $29,000. Renaissance Technologies LLC purchased a new position in WidePoint during the 2nd quarter valued at about $37,000. Citadel Advisors LLC grew its holdings in WidePoint by 121.1% during the 3rd quarter. Citadel Advisors LLC now owns 13,577 shares of the technology company’s stock valued at $29,000 after buying an additional 7,437 shares in the last quarter. Vanguard Group Inc. grew its holdings in WidePoint by 9.6% during the 3rd quarter. Vanguard Group Inc. now owns 390,757 shares of the technology company’s stock valued at $833,000 after buying an additional 34,072 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in WidePoint by 27.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 43,483 shares of the technology company’s stock valued at $79,000 after buying an additional 9,377 shares in the last quarter. Hedge funds and other institutional investors own 22.60% of the company’s stock.

WidePoint Company Profile

WidePoint Corporation provides technology management as a service (TMaaS) to the government and business enterprises in North America and Europe. It 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 deploys identity management solutions that provides secured virtual and physical access to restricted environments.