Wall Street Zen Upgrades Virnetx (NASDAQ:VHC) to “Sell”

Virnetx (NASDAQ:VHC) was upgraded by analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

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

Virnetx Price Performance

Shares of NASDAQ VHC opened at $11.65 on Friday. The stock has a market capitalization of $48.81 million, a P/E ratio of -2.17 and a beta of 2.28. The company has a 50-day moving average price of $12.75 and a 200-day moving average price of $13.99. Virnetx has a 1 year low of $9.82 and a 1 year high of $29.00.

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

Insider Buying and Selling at Virnetx

In other news, CEO Kendall Larsen sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $11.17, for a total transaction of $55,850.00. Following the completion of the sale, the chief executive officer owned 369,633 shares in the company, valued at $4,128,800.61. This trade represents a 1.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 15.74% of the stock is owned by corporate insiders.

Institutional Trading of Virnetx

Institutional investors have recently modified their holdings of the business. Csenge Advisory Group bought a new position in Virnetx in the 2nd quarter worth about $868,000. BlackRock Inc. purchased a new position in shares of Virnetx during the second quarter worth about $840,000. Williams Jones Wealth Management LLC. increased 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 last quarter. JPMorgan Chase & Co. raised its stake in Virnetx by 9,676.5% in 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 in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of 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 in the last quarter. 10.37% of the stock is currently 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.