WidePoint (WYY) Shares Down 5.3%

Shares of WidePoint Co. (NYSEAMERICAN:WYY) were down 5.3% during mid-day trading on Wednesday . The stock traded as low as $0.50 and last traded at $0.54. Approximately 535,500 shares traded hands during mid-day trading, an increase of 219% from the average daily volume of 167,613 shares. The stock had previously closed at $0.57.

Separately, Zacks Investment Research downgraded shares of WidePoint from a “hold” rating to a “strong sell” rating in a research note on Tuesday, March 26th.

A hedge fund recently raised its stake in WidePoint stock. Renaissance Technologies LLC boosted its position in WidePoint Co. (NYSEAMERICAN:WYY) by 38.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 881,447 shares of the technology company’s stock after purchasing an additional 243,885 shares during the period. Renaissance Technologies LLC owned approximately 1.05% of WidePoint worth $401,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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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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