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

Shares of WYY opened at $0.33 on Friday. WidePoint has a one year low of $0.31 and a one year high of $0.63.

In other WidePoint news, Director Richard L. Todaro purchased 100,000 shares of WidePoint stock in a transaction that occurred on Wednesday, August 21st. The stock was acquired at an average price of $0.34 per share, for a total transaction of $34,000.00. Following the completion of the acquisition, the director now owns 139,762 shares of the company’s stock, valued at approximately $47,519.08. The purchase was disclosed in a 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 raised its holdings in shares of WidePoint Co. (NYSEAMERICAN:WYY) by 29.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,138,570 shares of the technology company’s stock after purchasing an additional 257,123 shares during the quarter. Renaissance Technologies LLC owned approximately 1.35% of WidePoint worth $476,000 at the end of the most recent reporting period.

WidePoint Company Profile

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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