WidePoint (NYSEAMERICAN:WYY) Coverage Initiated at StockNews.com

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 Price Performance

NYSEAMERICAN:WYY opened at $1.98 on Wednesday. WidePoint has a 12-month low of $1.60 and a 12-month high of $3.49. The stock’s 50-day simple moving average is $1.85. The stock has a market capitalization of $17.50 million, a PE ratio of -4.30 and a beta of 1.33.

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

Hedge Funds Weigh In On WidePoint

Institutional investors have recently added to or reduced their stakes in the company. Susquehanna International Group LLP purchased a new position in WidePoint during the 1st quarter valued at approximately $25,000. UBS Group AG purchased a new position in WidePoint during the 1st quarter valued at approximately $29,000. Citadel Advisors LLC boosted its holdings in shares of 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. Renaissance Technologies LLC purchased a new position in shares of WidePoint in the 2nd quarter worth approximately $37,000. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of 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. Hedge funds and other institutional investors own 22.60% of the company’s stock.

About WidePoint

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.