WidePoint Co. (WYY) Lowered to “Hold” at Zacks Investment Research
WidePoint Co. (NYSEMKT:WYY) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
According to Zacks, “WidePoint is a technology-based provider of products and services to the government sector and commercial markets. WidePoint specializes in providing systems engineering, integration and information technology services. WidePoint’s wholly owned subsidiary, ORC, is at the forefront of implementing government-compliant eAuthentication identity management managed services and associated systems engineering/integration. ORC has earned four major U.S. federal government certifications offering the highest levels of assurance for transactions over the Internet. WidePoint’s profile of customers encompasses U.S. Federal Government agencies, including the Department of Defense, the Department of Homeland Security and the Department of Justice as well as major U.S. defense contractors and several major pharmaceutical companies. “
Separately, B. Riley reissued a “buy” rating and set a $1.50 price objective on shares of WidePoint in a research note on Friday, November 4th.
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Shares of WidePoint (NYSEMKT:WYY) traded down 5.1647% during trading on Wednesday, reaching $0.8061. 234,600 shares of the company’s stock traded hands. WidePoint has a 1-year low of $0.37 and a 1-year high of $0.96. The company’s market capitalization is $66.69 million. The stock has a 50-day moving average of $0.77 and a 200-day moving average of $0.57.
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In related news, CFO James T. Mccubbin sold 150,000 shares of the company’s stock in a transaction that occurred on Thursday, December 22nd. The shares were sold at an average price of $0.77, for a total transaction of $115,500.00. Following the transaction, the chief financial officer now owns 1,768,126 shares of the company’s stock, valued at $1,361,457.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
WidePoint Corporation is a provider of information technology (IT)-based products, services and solutions. The Company offers secure, cloud-based, enterprise-wide IT-based solutions that enable commercial markets, and federal and state government organizations, to deploy fully compliant IT services in accordance with government-mandated regulations and advanced system requirements.
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