Virnetx (NASDAQ:VHC) Trading Up 0.3% – Here’s What Happened

Virnetx Holding Corp (NASDAQ:VHC)’s stock price was up 0.3% during trading on Thursday . The stock traded as high as $12.70 and last traded at $12.53. Approximately 11,218 shares traded hands during mid-day trading, a decline of 44% from the average session volume of 20,048 shares. The stock had previously closed at $12.49.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on VHC shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Virnetx in a report on Monday, March 23rd. Wall Street Zen lowered Virnetx from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Virnetx Stock Performance

The stock has a market cap of $52.50 million, a P/E ratio of -2.43 and a beta of 2.24. The business has a 50 day moving average of $14.15.

Virnetx (NASDAQ:VHC) last posted its quarterly earnings results on Friday, May 15th. The company reported ($1.16) earnings per share for the quarter.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. JPMorgan Chase & Co. increased its stake in Virnetx by 9,676.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,986 shares of the company’s stock worth $85,000 after buying an additional 4,935 shares in the last quarter. State Street Corp lifted its position in shares of Virnetx by 21.9% in the fourth quarter. State Street Corp now owns 14,447 shares of the company’s stock valued at $241,000 after acquiring an additional 2,600 shares in the last quarter. HighTower Advisors LLC boosted its stake in shares of Virnetx by 3.1% in the fourth quarter. HighTower Advisors LLC now owns 20,571 shares of the company’s stock worth $343,000 after acquiring an additional 625 shares during the period. Geode Capital Management LLC boosted its stake in shares of Virnetx by 4.2% in the second quarter. Geode Capital Management LLC now owns 32,357 shares of the company’s stock worth $351,000 after acquiring an additional 1,318 shares during the period. Finally, Csenge Advisory Group grew its position in shares of Virnetx by 13.8% during the fourth quarter. Csenge Advisory Group now owns 68,243 shares of the company’s stock worth $1,139,000 after purchasing an additional 8,275 shares in the last quarter. Hedge funds and other institutional investors own 10.37% of the company’s stock.

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.