WidePoint (NYSEAMERICAN:WYY) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research cut shares of WidePoint (NYSEAMERICAN:WYY) from a hold rating to a sell rating in a report released on Saturday morning, Zacks.com reports.

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 increased their price objective on shares of WidePoint from $0.70 to $0.75 and gave the stock a buy rating in a research note on Friday, May 15th.

WidePoint stock opened at $0.69 on Friday. WidePoint has a one year low of $0.28 and a one year high of $0.99.

WidePoint (NYSEAMERICAN:WYY) last posted its quarterly earnings data on Thursday, May 14th. The technology company reported $0.01 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.01. The business had revenue of $39.67 million for the quarter, compared to analyst estimates of $26.02 million.

In other news, major shareholder Nokomis Capital, L.L.C. sold 577,361 shares of the company’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $0.74, for a total value of $427,247.14. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 2,639,987 shares of company stock worth $1,615,573.

An institutional investor recently raised its position in WidePoint stock. Renaissance Technologies LLC raised its stake in WidePoint Co. (NYSEAMERICAN:WYY) by 29.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,503,788 shares of the technology company’s stock after acquiring an additional 342,197 shares during the quarter. Renaissance Technologies LLC owned about 1.77% of WidePoint worth $599,000 at the end of the most recent reporting period.

WidePoint Company Profile

WidePoint Corporation provides trusted mobility management (TM2) solutions to the government and commercial sectors in North America and Europe. It offers federally certified secure identity management and communications solutions through a proprietary portal. The company provides telecom lifecycle management solutions to corporations, governments, and not-for-profit organizations that provide visibility of telecom assets enabling clients to secure and manage the telecom assets; and telecom bill presentment analytical solutions, including bill presentment, subscriber data intelligence, and hosted voice analytics to communications service providers.

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