WidePoint (NYSEAMERICAN:WYY) Stock Rating Lowered by Zacks Research

WidePoint (NYSEAMERICAN:WYY) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Thursday,Zacks.com reports.

WidePoint Price Performance

Shares of NYSEAMERICAN WYY opened at $9.45 on Thursday. The firm has a market cap of $93.46 million, a PE ratio of -72.69 and a beta of 1.77. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.32. WidePoint has a 1-year low of $3.25 and a 1-year high of $24.30. The company has a fifty day moving average price of $12.73 and a 200 day moving average price of $8.60.

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

Insider Buying and Selling

In other WidePoint news, COO Todd Dzyak sold 10,000 shares of WidePoint stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $24.00, for a total value of $240,000.00. Following the sale, the chief operating officer directly owned 115,436 shares in the company, valued at approximately $2,770,464. The trade was a 7.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Robert J. George sold 16,882 shares of the business’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $16.16, for a total transaction of $272,813.12. Following the sale, the chief financial officer directly owned 19,842 shares in the company, valued at $320,646.72. This trade represents a 45.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 82,745 shares of company stock worth $1,355,144. 16.10% of the stock is owned by insiders.

Institutional Trading of WidePoint

Hedge funds and other institutional investors have recently modified their holdings of the stock. Potomac Capital Management Inc. bought a new stake in WidePoint during the fourth quarter worth about $1,051,000. Informed Momentum Co LLC acquired a new position in WidePoint during the fourth quarter valued at approximately $527,000. NewEdge Advisors LLC grew its stake in WidePoint by 194.5% in the fourth quarter. NewEdge Advisors LLC now owns 46,028 shares of the technology company’s stock valued at $247,000 after purchasing an additional 30,397 shares in the last quarter. O Shaughnessy Asset Management LLC bought a new position in WidePoint in the fourth quarter valued at approximately $152,000. Finally, Bridgeway Capital Management LLC increased its position in shares of WidePoint by 87.6% during the 2nd quarter. Bridgeway Capital Management LLC now owns 60,527 shares of the technology company’s stock worth $207,000 after purchasing an additional 28,269 shares during the last quarter. Institutional investors and hedge funds own 22.60% of the company’s stock.

WidePoint Company Profile

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.