WidePoint (NYSEAMERICAN:WYY) Rating Lowered to Sell at Zacks Investment Research

WidePoint (NYSEAMERICAN:WYY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Saturday, 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 boosted their price target on WidePoint from $0.70 to $0.75 and gave the company a “buy” rating in a research report on Friday, May 15th.

WYY stock traded down $0.02 during trading on Friday, reaching $0.66. 647,389 shares of the stock traded hands, compared to its average volume of 602,312. WidePoint has a 52-week low of $0.28 and a 52-week high of $0.99.

WidePoint (NYSEAMERICAN:WYY) last posted its quarterly earnings results on Thursday, May 14th. The technology company reported $0.01 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.01. The firm had revenue of $39.67 million for the quarter, compared to analysts’ expectations 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 stock was sold at an average price of $0.74, for a total value of $427,247.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 2,639,987 shares of company stock valued at $1,615,573 in the last ninety days.

A hedge fund recently bought a new stake in WidePoint stock. Advisor Group Holdings Inc. purchased a new position in WidePoint Co. (NYSEAMERICAN:WYY) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 131,000 shares of the technology company’s stock, valued at approximately $48,000. Advisor Group Holdings Inc. owned approximately 0.16% of WidePoint as of its most recent filing with the Securities & Exchange Commission.

About WidePoint

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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