Benzinga | Jul 14, 2020 11:24AM EDT

Why WidePoint's Stock Is Trading Higher Today

* WidePoint (NYSE:WYY) shares are trading higher on Tuesday after the company said it recorded more than $42 million in federal contract awards and extensions during the second quarter.

* WidePoint is a provider of trusted mobility management (TM2) that offers federally certified communications management, identity management and analytics solutions. The company's solutions include Telecom Lifecycle Management, Digital billing communications solutions and Mobile and Identity management. While the majority of its revenue is earned from carrier services.

* WidePoint shares were trading up 3.79% at 67 cents at the time of publication on Tuesday. The stock has a 52-week high of 99 cents and a 52-week low of 28 cents.