Nokomis Capital Picked Up Widepoint Corp (NYSEMKT:WYY) Shares

In a just published Form 13, filed with the US Securities and Exchange Commission (SEC),...
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In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Widepoint Corp (NYSEMKT:WYY) reported that Nokomis Capital has picked up 12,774,251 of common stock as of 2017-04-05.

The acquisition brings the aggregate amount owned by Nokomis Capital to a total of 12,774,251 representing a 15.4% stake in the company.

For those not familiar with the company, WidePoint Corporation is a provider of information technology (IT)-based products, services and solutions. The Company offers secure, cloud-based, enterprise-wide IT-based solutions that enable commercial markets, and federal and state government organizations, to deploy fully compliant IT services in accordance with government-mandated regulations and advanced system requirements. The Company offers telecom management services, which include life cycle management of fixed and mobile assets; mobile security management services, which include life cycle fixed and mobile device access and application control management; identity management services, which include life cycle fixed and mobile, including cloud-based services authentication and information assurance services, and identity services, which include fixed and mobile digital certificates required for secure access to a customer’s technology infrastructure.

A glance at Widepoint Corp (NYSEMKT:WYY)’s key stats reveals a current market capitalization of 32.13 Million based on 82.81 Million shares outstanding and a price at last close of $0.420 per share.

Looking at insider activity, there are a few transactions worth noting.

Specifically, on 2015-09-22, Nokomis picked up 3,791,107 at a purchase price of $0.79. This brings their total holding to 12,774,251 as of the date of the filing.

On the sell side, the most recent transaction saw Mccubbin unload 20,000 shares at a sale price of $0.75. This brings their total holding to 1,684,639.

It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Widepoint Corp (NYSEMKT:WYY) as things move forward to see if its progress aligns with these transactions.

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