WidePoint (NYSEAMERICAN:WYY) Shares Pass Above 50 Day Moving Average of $0.00

WidePoint Co. (NYSEAMERICAN:WYY)’s stock price passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $0.00 and traded as high as $3.98. WidePoint shares last traded at $3.80, with a volume of 30,046 shares traded.

Analysts Set New Price Targets

A number of research firms have weighed in on WYY. Litchfield Hills Research upgraded WidePoint to a “strong-buy” rating in a research report on Monday, June 24th. StockNews.com assumed coverage on WidePoint in a report on Sunday, June 16th. They set a “hold” rating on the stock.

WidePoint Stock Performance

The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.06 and a current ratio of 1.06. The firm has a market capitalization of $36.67 million, a price-to-earnings ratio of -9.05 and a beta of 1.65.

WidePoint (NYSEAMERICAN:WYY) last issued its quarterly earnings data on Wednesday, August 14th. The technology company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. The firm had revenue of $36.04 million for the quarter, compared to analyst estimates of $29.64 million. WidePoint had a negative return on equity of 23.31% and a negative net margin of 2.74%. As a group, research analysts predict that WidePoint Co. will post -0.23 EPS for the current year.

Institutional Investors Weigh In On WidePoint

A number of large investors have recently modified their holdings of the stock. Platform Technology Partners boosted its position in WidePoint by 74.8% during the 4th quarter. Platform Technology Partners now owns 46,753 shares of the technology company’s stock valued at $108,000 after acquiring an additional 20,000 shares in the last quarter. Summit Financial Strategies Inc. lifted its stake in shares of WidePoint by 170.5% in the 2nd quarter. Summit Financial Strategies Inc. now owns 103,068 shares of the technology company’s stock valued at $432,000 after purchasing an additional 64,963 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of WidePoint by 41.8% during the second quarter. Dimensional Fund Advisors LP now owns 61,058 shares of the technology company’s stock valued at $256,000 after purchasing an additional 17,991 shares in the last quarter. Institutional investors 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.