Virnetx (NASDAQ:VHC) Upgraded at Wall Street Zen

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

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Virnetx in a research note on Thursday, June 18th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of “Sell”.

Virnetx Stock Performance

NASDAQ VHC opened at $11.65 on Friday. The company has a market capitalization of $48.81 million, a P/E ratio of -2.17 and a beta of 2.28. The stock has a 50 day moving average price of $12.73 and a 200-day moving average price of $13.94. Virnetx has a one year low of $9.82 and a one year high of $29.00.

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

Insider Activity

In other news, CEO Kendall Larsen sold 4,575 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $11.51, for a total value of $52,658.25. Following the completion of the sale, the chief executive officer owned 360,058 shares in the company, valued at approximately $4,144,267.58. This trade represents a 1.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 15.74% of the company’s stock.

Hedge Funds Weigh In On Virnetx

Hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its position 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 purchasing an additional 4,935 shares during the period. State Street Corp boosted its position in shares of Virnetx by 21.9% during the fourth quarter. State Street Corp now owns 14,447 shares of the company’s stock valued at $241,000 after buying an additional 2,600 shares during the period. HighTower Advisors LLC grew its stake in shares of 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 buying an additional 625 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Virnetx by 4.2% during the second quarter. Geode Capital Management LLC now owns 32,357 shares of the company’s stock valued at $351,000 after buying an additional 1,318 shares during the last quarter. Finally, BlackRock Inc. purchased a new stake in shares of Virnetx in the second quarter worth approximately $840,000. 10.37% of the stock is currently owned by institutional investors.

About Virnetx

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.