Zacks Investment Research Lowers WidePoint (NYSEAMERICAN:WYY) to Sell

Zacks Investment Research lowered shares of WidePoint (NYSEAMERICAN:WYY) from a hold rating to a sell rating in a research report released on Sunday 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. “

NYSEAMERICAN WYY opened at $0.33 on Friday. WidePoint has a fifty-two week low of $0.31 and a fifty-two week high of $0.63.

In related news, Director Richard L. Todaro purchased 100,000 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was bought at an average cost of $0.34 per share, for a total transaction of $34,000.00. Following the completion of the transaction, the director now directly owns 139,762 shares in the company, valued at $47,519.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

An institutional investor recently raised its position in WidePoint stock. Renaissance Technologies LLC grew its holdings in WidePoint Co. (NYSEAMERICAN:WYY) by 29.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,138,570 shares of the technology company’s stock after purchasing an additional 257,123 shares during the period. Renaissance Technologies LLC owned about 1.35% of WidePoint worth $476,000 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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