StockNews.com Initiates Coverage on WidePoint (NYSEAMERICAN:WYY)

StockNews.com assumed coverage on shares of WidePoint (NYSEAMERICAN:WYY) in a research note released on Wednesday. The brokerage issued a sell rating on the technology company’s stock.

WidePoint Price Performance

Shares of WYY opened at $2.00 on Wednesday. The company has a 50 day simple moving average of $1.85. WidePoint has a 52-week low of $1.60 and a 52-week high of $3.49.

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

Institutional Investors Weigh In On WidePoint

Several large investors have recently modified their holdings of the company. UBS Group AG purchased a new stake in shares of WidePoint during the first quarter worth approximately $29,000. Citadel Advisors LLC raised its stake in shares of WidePoint by 121.1% during the third quarter. Citadel Advisors LLC now owns 13,577 shares of the technology company’s stock worth $29,000 after purchasing an additional 7,437 shares during the last quarter. Susquehanna International Group LLP purchased a new stake in shares of WidePoint during the first quarter worth approximately $25,000. Renaissance Technologies LLC purchased a new stake in shares of WidePoint during the second quarter worth approximately $37,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of WidePoint by 27.5% during the fourth 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. 22.60% of the stock is owned by institutional investors and hedge funds.

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.