Summit Financial Strategies Inc. Buys 64,963 Shares of WidePoint Co. (NYSEAMERICAN:WYY)

Summit Financial Strategies Inc. lifted its stake in WidePoint Co. (NYSEAMERICAN:WYY) by 170.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 103,068 shares of the technology company’s stock after acquiring an additional 64,963 shares during the quarter. Summit Financial Strategies Inc. owned 1.11% of WidePoint worth $432,000 as of its most recent filing with the Securities & Exchange Commission.

Separately, Platform Technology Partners boosted its position in WidePoint by 74.8% in the fourth quarter. Platform Technology Partners now owns 46,753 shares of the technology company’s stock worth $108,000 after purchasing an additional 20,000 shares during the last quarter. Institutional investors and hedge funds own 22.60% of the company’s stock.

Wall Street Analysts Forecast Growth

WYY has been the subject of a number of recent research reports. StockNews.com began coverage on shares of WidePoint in a research report on Sunday, June 16th. They set a “hold” rating for the company. Litchfield Hills Research upgraded WidePoint to a “strong-buy” rating in a research report on Monday, June 24th.

WidePoint Trading Down 3.1 %

Shares of WYY stock traded down $0.12 during trading hours on Friday, hitting $3.75. The stock had a trading volume of 28,217 shares, compared to its average volume of 79,315. WidePoint Co. has a one year low of $1.60 and a one year high of $4.55. The stock has a market capitalization of $34.91 million, a price-to-earnings ratio of -8.93 and a beta of 1.69.

WidePoint (NYSEAMERICAN:WYY) last issued its quarterly earnings data on Wednesday, August 14th. The technology company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.03. WidePoint had a negative return on equity of 22.99% and a negative net margin of 2.74%. The business had revenue of $36.04 million for the quarter, compared to analysts’ expectations of $29.64 million. As a group, research analysts predict that WidePoint Co. will post -0.37 EPS for the current fiscal year.

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.