Notable News Spotlight: WidePoint Corporation (NYSE:WYY)

WidePoint Corporation (NYSE:WYY) spotted trading -33.32% off 52-week high price. On the other end, the stock has been noted 10.55% away from the low price over the last 52-weeks. The stock changed -2.30% to recent value of $0.42. The stock transacted 72541 shares during most recent day however it has an average volume of 215.5K shares. The company has 85.89M of outstanding shares and 77M shares were floated in the market.  

WidePoint Corporation (NYSE:WYY), the leading provider of Trusted Mobility Management (TM2) specializing in Telecommunications Lifecycle Management, Identity Management and Bill Presentment & Analytics solutions, reported that a global communications service provider (CSP) has renewed its contract with WidePoint’s subsidiary, Soft-ex Communications Ltd. The contract renewal is scheduled to last three years and is valued at $6.0 million.

Under the agreement, Soft-ex will deliver its Optimiser solution, which consists of both cloud and onsite telecom analytics solutions, to all business segments of the CSP’s global client base. This client base includes government and multinational corporations and consists of new as well as current clients already benefitting from deployments of the Soft-ex hosted solution.

“Soft-ex has a long-standing track-record of working with global CSPs to deliver value-add services to their customer base,” said Ian Sparling, President and Chief Executive Officer at Soft-ex and WidePoint Interim CFO. “Our solutions benefit these customers by giving them access to a unified communications reporting and analytics platform. Optimiser consolidates their information and enables them to better understand and manage telecom, costs, infrastructure and performance. The added insight increases efficiency and ultimately results in a compelling ROI for the enterprise customer.”

Jin Kang, WidePoint CEO, added: “This contract renewal with a key strategic partner both proves the complementary nature of our solutions with CSP cloud platforms and serves as a testament to the success of our commercial alliance. The combination of this contract and the recent denial of the protest of the NASA NEST award provides us with solid momentum going into the second half of 2019. We look forward to the next phase of working with this strategic partner and the positive impact this relationship will have on our business as we collaborate on technologies and innovative solutions and target new, joint opportunities.”

 Its earnings per share (EPS) expected to touch remained 47.00% for this year while earning per share for the next 5-years is expected to reach at 20.00%. WYY has a gross margin of 18.70% and an operating margin of 0.80% while its profit margin remained -0.70% for the last 12 months. 

 According to the most recent quarter its current ratio was 1.2 that represents company’s ability to meet its current financial obligations. The price moved ahead of -3.93% from the mean of 20 days, -12.00% from mean of 50 days SMA and performed -9.08% from mean of 200 days price. Company’s performance for the week was -0.40%, -13.31% for month and YTD performance remained 0.74%.

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