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

Equities researchers at StockNews.com initiated coverage on shares of WidePoint (NYSEAMERICAN:WYY) in a report released on Wednesday. The firm set a “hold” rating on the technology company’s stock.

WidePoint Price Performance

NYSEAMERICAN:WYY traded down $0.23 on Wednesday, reaching $2.63. 49,888 shares of the company’s stock traded hands, compared to its average volume of 80,229. The firm has a market cap of $25.77 million, a PE ratio of -8.48 and a beta of 1.70. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.27. The stock has a 50-day simple moving average of $3.47 and a 200-day simple moving average of $3.92. WidePoint has a 12 month low of $1.83 and a 12 month high of $6.25.

Hedge Funds Weigh In On WidePoint

Several large investors have recently modified their holdings of WYY. Arrowstreet Capital Limited Partnership purchased a new stake in WidePoint in the 4th quarter worth about $75,000. Jane Street Group LLC bought a new stake in shares of WidePoint during the 4th quarter worth approximately $101,000. Private Advisor Group LLC lifted its stake in shares of WidePoint by 29.2% during the 4th quarter. Private Advisor Group LLC now owns 31,000 shares of the technology company’s stock worth $150,000 after acquiring an additional 7,000 shares during the last quarter. Truvestments Capital LLC purchased a new position in WidePoint during the 4th quarter valued at $186,000. Finally, Essex Investment Management Co. LLC grew its position in WidePoint by 9.9% in the 4th quarter. Essex Investment Management Co. LLC now owns 50,699 shares of the technology company’s stock valued at $245,000 after acquiring an additional 4,547 shares during the last quarter. Institutional investors own 22.60% of the company’s stock.

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.