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

Analysts at StockNews.com began coverage on shares of WidePoint (NYSEAMERICAN:WYY) in a research report issued to clients and investors on Wednesday. The brokerage set a “sell” rating on the technology company’s stock.

WidePoint Stock Down 3.7 %

Shares of WYY opened at $2.10 on Wednesday. The stock has a market capitalization of $18.56 million, a P/E ratio of -4.57 and a beta of 1.33. The firm’s 50 day simple moving average is $1.85. WidePoint has a 12 month low of $1.60 and a 12 month high of $3.49.

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

Hedge Funds Weigh In On WidePoint

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Citadel Advisors LLC raised its holdings in WidePoint by 121.1% in the 3rd 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 period. UBS Group AG bought a new position in WidePoint in the 1st quarter worth $29,000. Dimensional Fund Advisors LP raised its holdings in WidePoint by 27.5% in the 4th 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 period. Susquehanna International Group LLP bought a new position in WidePoint in the 1st quarter worth $25,000. Finally, Renaissance Technologies LLC bought a new position in WidePoint in the 2nd quarter worth $37,000. 22.60% of the stock is owned by institutional investors.

About WidePoint

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