Virnetx (NASDAQ:VHC) Downgraded by Wall Street Zen to Strong Sell

Key Points

• VirnetX was downgraded to “strong sell” by Wall Street Zen, while Weiss Ratings maintained a “sell (D-)” rating. The stock has an overall average rating of “Sell” based on one analyst rating.
• VirnetX shares opened at $12.60, with a market capitalization of $52.79 million and a 52-week range of $9.82 to $29.00. The company reported a quarterly loss of $1.20 per share.
• Institutional investors collectively own 10.37% of VirnetX, with several firms—including Vanguard, State Street, and JPMorgan—recently increasing their holdings.

Virnetx (NASDAQ:VHC - Get Free Report) was downgraded by Wall Street Zen from a "sell" rating to a "strong sell" rating in a research note issued on Saturday.

Separately, Weiss Ratings restated 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, Based on data from MarketBeat.com, the stock presently has an average rating of "Sell".

Virnetx Stock Performance

Shares of VHC opened at $12.60 on Friday. The company's 50-day simple moving average is $12.81 and its 200-day simple moving average is $14.47. Virnetx has a 1 year low of $9.82 and a 1 year high of $29.00. The stock 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 announced 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 large investors have recently made changes to their positions in the company. HighTower Advisors LLC raised its holdings in Virnetx by 3.1% in the fourth quarter. HighTower Advisors LLC now owns 20,571 shares of the company's stock valued at $343,000 after acquiring an additional 625 shares in the last quarter. Geode Capital Management LLC grew its holdings in 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 acquiring an additional 1,318 shares in the last quarter. State Street Corp grew 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 acquiring an additional 2,600 shares in the last quarter. Vanguard Group Inc. grew its holdings in Virnetx by 2.9% during the 3rd quarter. Vanguard Group Inc. now owns 172,337 shares of the company's stock worth $2,947,000 after acquiring an additional 4,815 shares in the last quarter. Finally, JPMorgan Chase & Co. increased 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 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.

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