Virnetx (NASDAQ:VHC) Posts Earnings Results

Virnetx (NASDAQ:VHC) announced its quarterly earnings results on Friday. The company reported ($1.16) EPS for the quarter, FiscalAI reports.

Virnetx Price Performance

Shares of NASDAQ VHC opened at $14.24 on Friday. The firm’s 50 day simple moving average is $14.90. The company has a market capitalization of $59.67 million, a price-to-earnings ratio of -2.76 and a beta of 2.18. Virnetx has a 12-month low of $6.60 and a 12-month high of $29.00.

Analyst Ratings Changes

A number of brokerages have recently commented on VHC. Wall Street Zen lowered shares of Virnetx from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Virnetx in a research note on Monday, March 23rd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Virnetx currently has an average rating of “Sell”.

Institutional Trading of Virnetx

Large investors have recently added to or reduced their stakes in the business. Csenge Advisory Group boosted its position in shares of Virnetx by 44.1% in the third quarter. Csenge Advisory Group now owns 59,968 shares of the company’s stock worth $1,079,000 after purchasing an additional 18,353 shares during the period. Williams Jones Wealth Management LLC. boosted its position in shares of Virnetx by 19.0% in the fourth quarter. Williams Jones Wealth Management LLC. now owns 100,165 shares of the company’s stock worth $1,672,000 after purchasing an additional 16,000 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Virnetx by 9,676.5% in the third quarter. JPMorgan Chase & Co. now owns 4,986 shares of the company’s stock worth $85,000 after purchasing an additional 4,935 shares during the period. Vanguard Group Inc. boosted its position in shares of Virnetx by 2.9% in the third quarter. Vanguard Group Inc. now owns 172,337 shares of the company’s stock worth $2,947,000 after purchasing an additional 4,815 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Virnetx by 12.6% in the fourth quarter. Geode Capital Management LLC now owns 41,923 shares of the company’s stock worth $700,000 after purchasing an additional 4,684 shares during the period. 10.37% of the stock is currently owned by institutional investors.

Virnetx Company Profile

VirnetX Holding Corp. is a U.S.-based technology company focused on secure communications and network security technologies. The company develops, owns and licenses intellectual property covering methods and systems for encrypted communications, virtual private networks and secure domain name resolution. VirnetX’s work centers on technologies designed to protect data in transit and enable private, authenticated connections across public networks.

VirnetX’s offerings are primarily deployed through licensing arrangements and technology integrations rather than through mass-market consumer products.