Insider Buying: WidePoint Co. (WYY) Director Buys 71,300 Shares of Stock

WidePoint Co. (NYSEAMERICAN:WYY) Director Philip E. Richter purchased 71,300 shares of the stock in a transaction on Thursday, November 30th. The stock was acquired at an average cost of $0.68 per share, for a total transaction of $48,484.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Shares of WidePoint Co. (NYSEAMERICAN WYY) traded down $0.01 during trading on Friday, hitting $0.68. 176,000 shares of the company’s stock were exchanged, compared to its average volume of 153,083. WidePoint Co. has a 1-year low of $0.39 and a 1-year high of $0.96.

WidePoint (NYSEAMERICAN:WYY) last issued its quarterly earnings data on Tuesday, November 14th. The technology company reported $0.00 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.01. The business had revenue of $18.46 million during the quarter, compared to the consensus estimate of $19.14 million. WidePoint had a negative net margin of 6.89% and a negative return on equity of 19.55%.

WYY has been the subject of a number of analyst reports. B. Riley reiterated a “buy” rating and issued a $1.00 price objective on shares of WidePoint in a research report on Wednesday, August 16th. ValuEngine upgraded shares of WidePoint from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. Finally, Zacks Investment Research upgraded shares of WidePoint from a “sell” rating to a “hold” rating in a research report on Wednesday, October 18th.

An institutional investor recently raised its position in WidePoint stock. Intellectus Partners LLC raised its holdings in WidePoint Co. (NYSEAMERICAN:WYY) by 2.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 237,855 shares of the technology company’s stock after acquiring an additional 5,000 shares during the period. Intellectus Partners LLC owned approximately 0.29% of WidePoint worth $109,000 at the end of the most recent quarter.

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WidePoint Company Profile

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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