WidePoint (NYSEAMERICAN:WYY) Stock Crosses Above 50 Day Moving Average of $0.00

WidePoint Co. (NYSEAMERICAN:WYY)’s share 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

Several equities research analysts recently commented on the stock. Litchfield Hills Research raised shares of WidePoint to a “strong-buy” rating in a research note on Monday, June 24th. StockNews.com assumed coverage on shares of WidePoint in a report on Sunday, June 16th. They set a “hold” rating for the company.

WidePoint Trading Down 0.5 %

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

WidePoint (NYSEAMERICAN:WYY) last released its quarterly earnings data on Wednesday, August 14th. The technology company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.03. The business had revenue of $36.04 million during the quarter, compared to analyst estimates of $29.64 million. WidePoint had a negative net margin of 2.74% and a negative return on equity of 23.31%. On average, sell-side analysts anticipate that WidePoint Co. will post -0.23 EPS for the current fiscal year.

Hedge Funds Weigh In On WidePoint

A number of hedge funds have recently added to or reduced their stakes in WYY. 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 buying an additional 17,991 shares during the last quarter. Summit Financial Strategies Inc. lifted its stake in WidePoint by 170.5% during the 2nd quarter. Summit Financial Strategies Inc. now owns 103,068 shares of the technology company’s stock valued at $432,000 after acquiring an additional 64,963 shares during the period. Finally, Platform Technology Partners boosted its holdings in shares of 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 during the last quarter. 22.60% of the stock is currently owned by hedge funds and other institutional investors.

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.