Virnetx (NASDAQ:VHC) Trading Down 0.8% – Here’s Why

Virnetx Holding Corp (NASDAQ:VHC) shares fell 0.8% on Friday . The company traded as low as $10.00 and last traded at $10.28. Approximately 11,801 shares traded hands during mid-day trading, a decline of 56% from the average daily volume of 26,944 shares. The stock had previously closed at $10.36.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on VHC. Wall Street Zen lowered Virnetx from a “hold” rating to a “sell” rating in a research report on Saturday, March 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Virnetx in a research note on Thursday, June 18th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has a consensus rating of “Sell”.

Virnetx Price Performance

The business’s 50-day moving average is $13.27. The firm has a market capitalization of $43.07 million, a price-to-earnings ratio of -1.99 and a beta of 2.29.

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

Institutional Trading of Virnetx

A number of institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its stake in shares of Virnetx by 9,676.5% in the third quarter. JPMorgan Chase & Co. now owns 4,986 shares of the company’s stock worth $85,000 after acquiring an additional 4,935 shares during the period. State Street Corp lifted its position in 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 purchasing an additional 2,600 shares during the period. HighTower Advisors LLC lifted its position in 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 purchasing an additional 625 shares during the period. Geode Capital Management LLC boosted its holdings in 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 purchasing an additional 1,318 shares during the last quarter. Finally, Csenge Advisory Group boosted its holdings in Virnetx by 13.8% in 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 during 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.