Virnetx (NASDAQ:VHC) Cut to “Strong Sell” at Wall Street Zen

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

Separately, Weiss Ratings reissued 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 MarketBeat.com, the stock currently has an average rating of “Sell”.

Virnetx Stock Performance

Shares of VHC stock opened at $12.34 on Friday. The firm’s 50 day moving average price is $12.80 and its two-hundred day moving average price is $14.38. Virnetx has a 52-week low of $9.82 and a 52-week high of $29.00. The stock has a market cap of $51.69 million, a PE ratio of -2.30 and a beta of 2.30.

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

Institutional Investors Weigh In On Virnetx

A number of hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. grew its position in shares of Virnetx by 9,676.5% in the 3rd 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 period. State Street Corp raised its holdings in 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 buying an additional 2,600 shares during the period. HighTower Advisors LLC raised its holdings in 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 buying an additional 625 shares during the period. Geode Capital Management LLC lifted its stake in Virnetx by 4.2% in 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 in the last quarter. Finally, BlackRock Inc. bought a new position in Virnetx in the second quarter valued at approximately $840,000. Institutional investors and hedge funds own 10.37% of the company’s stock.

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.