Virnetx (NASDAQ:VHC) Lowered to “Strong Sell” Rating by Wall Street Zen

by · The Markets Daily

Wall Street Zen downgraded shares of Virnetx (NASDAQ:VHC – Free Report) from a sell rating to a strong sell rating in a research note issued to investors on Saturday.

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

View Our Latest Report on Virnetx

Virnetx Stock Performance

Shares of NASDAQ:VHC opened at $12.60 on Friday. The company’s fifty day moving average is $12.81 and its 200-day moving average is $14.47. Virnetx has a 52 week low of $9.82 and a 52 week high of $29.00. The company has a market capitalization of $52.79 million, a PE ratio of -2.35 and a beta of 2.30.

Virnetx (NASDAQ:VHC – Get Free Report) last posted its quarterly earnings data on Friday, August 14th. The company reported ($1.20) earnings per share for the quarter.

Institutional Trading of Virnetx

A number of hedge funds and other institutional investors have recently modified their holdings of VHC. JPMorgan Chase & Co. boosted its position in Virnetx by 9,676.5% during the third quarter. JPMorgan Chase & Co. now owns 4,986 shares of the company’s stock valued at $85,000 after purchasing an additional 4,935 shares during the last quarter. State Street Corp increased its position in shares of Virnetx by 21.9% during 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 last quarter. HighTower Advisors LLC increased its position in shares of Virnetx by 3.1% during the 4th quarter. HighTower Advisors LLC now owns 20,571 shares of the company’s stock worth $343,000 after purchasing an additional 625 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Virnetx by 4.2% during 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 in the last quarter. Finally, BlackRock Inc. bought a new stake in shares of Virnetx during the 2nd quarter worth approximately $840,000. Institutional investors and hedge funds own 10.37% of the company’s stock.

About Virnetx

(Get Free Report)

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.

See Also