Virnetx (NASDAQ:VHC) Rating Increased to Sell at Wall Street Zen

Wall Street Zen upgraded shares of Virnetx (NASDAQ:VHC) from a strong sell rating to a sell rating in a research note released on Saturday,Wall Street Zen reports.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Virnetx in a report on Thursday, June 18th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Virnetx currently has a consensus rating of “Sell”.

Virnetx Stock Performance

NASDAQ:VHC opened at $11.65 on Friday. The firm has a market cap of $48.81 million, a P/E ratio of -2.17 and a beta of 2.28. Virnetx has a fifty-two week low of $9.82 and a fifty-two week high of $29.00. The firm has a 50-day simple moving average of $12.75 and a two-hundred day simple moving average of $14.02.

Virnetx (NASDAQ:VHC) last issued its earnings results on Friday, August 14th. The company reported ($1.20) earnings per share (EPS) for the quarter.

Insiders Place Their Bets

In other Virnetx news, CEO Kendall Larsen sold 5,000 shares of the company’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $11.17, for a total transaction of $55,850.00. Following the transaction, the chief executive officer owned 369,633 shares in the company, valued at approximately $4,128,800.61. This represents a 1.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 15.74% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. HighTower Advisors LLC lifted its position in Virnetx by 3.1% during the fourth quarter. HighTower Advisors LLC now owns 20,571 shares of the company’s stock valued at $343,000 after purchasing an additional 625 shares during the period. Geode Capital Management LLC grew its position in Virnetx by 4.2% in the 2nd quarter. Geode Capital Management LLC now owns 32,357 shares of the company’s stock worth $351,000 after purchasing an additional 1,318 shares during the period. State Street Corp grew its position in Virnetx by 21.9% in the 4th quarter. State Street Corp now owns 14,447 shares of the company’s stock worth $241,000 after purchasing an additional 2,600 shares during the period. Vanguard Group Inc. raised its stake in Virnetx by 2.9% during the 3rd quarter. Vanguard Group Inc. now owns 172,337 shares of the company’s stock valued at $2,947,000 after buying an additional 4,815 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Virnetx by 9,676.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,986 shares of the company’s stock valued at $85,000 after buying an additional 4,935 shares during the last quarter. 10.37% of the stock is owned by hedge funds and other 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.