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

Stock analysts at StockNews.com started coverage on shares of WidePoint (NYSEAMERICAN:WYY) in a research note issued to investors on Tuesday. The brokerage set a “sell” rating on the technology company’s stock.

WidePoint Stock Up 2.6 %

Shares of WidePoint stock opened at $2.01 on Tuesday. WidePoint has a 1 year low of $1.60 and a 1 year high of $3.49. The firm has a market cap of $17.77 million, a PE ratio of -4.37 and a beta of 1.33.

WidePoint (NYSEAMERICAN:WYY) last announced its earnings results 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.

Institutional Investors Weigh In On WidePoint

A hedge fund recently raised its stake in WidePoint stock. Platform Technology Partners boosted its stake in WidePoint Co. (NYSEAMERICAN:WYY) by 74.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 46,753 shares of the technology company’s stock after purchasing an additional 20,000 shares during the quarter. Platform Technology Partners owned approximately 0.53% of WidePoint worth $108,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 22.60% of the company’s stock.

WidePoint Company Profile

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.