Virnetx (NASDAQ:VHC) Shares Down 4.7% - Here's Why

Key Points

• Shares fell 4.7% to about $12.25 during mid-day trading with roughly 18,107 shares changing hands, about 20% below average volume.
• Analyst sentiment is negative: Weiss Ratings reissued a "sell (d-)" and Wall Street Zen cut its rating to "sell", leaving a MarketBeat consensus of "Sell".
• Fundamentals remain weak after the March 24 quarter when Virnetx reported ($1.83) EPS on just $0.06 million revenue; market cap is about $51.3 million and the stock trades below its 50‑day SMA of $15.16.

Virnetx Holding Corp (NASDAQ:VHC - Get Free Report) shares dropped 4.7% during mid-day trading on Tuesday . The company traded as low as $12.22 and last traded at $12.25. Approximately 18,107 shares changed hands during trading, a decline of 20% from the average daily volume of 22,629 shares. The stock had previously closed at $12.86.

Analyst Ratings Changes

VHC has been the subject of a number of recent analyst reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Virnetx in a research note on Monday, March 23rd. Wall Street Zen lowered shares of Virnetx from a "hold" rating to a "sell" rating in a research note on Saturday, March 21st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has a consensus rating of "Sell".

Virnetx Stock Down 4.7%

The company has a market capitalization of $51.33 million, a PE ratio of -2.45 and a beta of 2.18. The company's 50 day simple moving average is $15.16.

Virnetx (NASDAQ:VHC - Get Free Report) last issued its earnings results on Tuesday, March 24th. The company reported ($1.83) earnings per share (EPS) for the quarter. The firm had revenue of $0.06 million for the quarter.

Institutional Trading of Virnetx

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Virnetx by 2.9% in the third 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 during the period. Williams Jones Wealth Management LLC. lifted its stake in 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 acquiring an additional 16,000 shares during the period. Csenge Advisory Group lifted its stake 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 acquiring an additional 8,275 shares during the period. Geode Capital Management LLC lifted its stake in Virnetx by 12.6% in the fourth quarter. Geode Capital Management LLC now owns 41,923 shares of the company's stock worth $700,000 after acquiring an additional 4,684 shares during the period. Finally, HighTower Advisors LLC lifted its stake in Virnetx by 3.1% in the fourth quarter. HighTower Advisors LLC now owns 20,571 shares of the company's stock worth $343,000 after acquiring an additional 625 shares during the period. 10.37% of the stock is 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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