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

Shares of WYY stock opened at $0.32 on Friday. WidePoint has a one year low of $0.31 and a one year high of $0.63.

A hedge fund recently raised its stake in WidePoint stock. Renaissance Technologies LLC raised its stake in shares of WidePoint Co. (NYSEAMERICAN:WYY) by 29.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund 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 1.35% of WidePoint worth $476,000 at the end of the most recent reporting period.

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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