WidePoint (NYSEAMERICAN:WYY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday, 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. “

WYY stock traded up $0.01 during midday trading on Friday, reaching $0.35. 66,961 shares of the stock were exchanged, compared to its average volume of 182,047. WidePoint has a 52 week low of $0.28 and a 52 week high of $0.63.

In related news, Director Richard L. Todaro bought 100,000 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were purchased at an average cost of $0.34 per share, with a total value of $34,000.00. Following the acquisition, the director now owns 139,762 shares of the company’s stock, valued at $47,519.08. The purchase was disclosed in a filing with the SEC, which is available through this link.

An institutional investor recently raised its position in WidePoint stock. Renaissance Technologies LLC increased its position in shares of WidePoint Co. (NYSEAMERICAN:WYY) by 29.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,138,570 shares of the technology company’s stock after buying an additional 257,123 shares during the quarter. Renaissance Technologies LLC owned about 1.35% of WidePoint worth $476,000 at the end of the most recent quarter.

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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