VirnetX (NYSE:VHC) Raised to "Sell" at Wall Street Zen

Key Points

• VirnetX's stock has been upgraded to a "sell" rating by analysts at Wall Street Zen, indicating a negative outlook for the company's shares.
• The stock recently traded down 9.8% and has a market capitalization of $55.76 million, with a twelve-month high of $21.53 and a low of $3.68.
• Institutional investors and hedge funds own 10.37% of VirnetX stock, with Csenge Advisory Group increasing its stake by 11.4% recently.

Wall Street Zen upgraded shares of VirnetX (NYSE:VHC - Free Report) to a sell rating in a research note released on Saturday.

VirnetX Price Performance

VirnetX stock traded down $0.38 during mid-day trading on Friday, reaching $16.01. The company had a trading volume of 3,907 shares, compared to its average volume of 13,484. VirnetX has a 1 year low of $3.68 and a 1 year high of $21.53. The company has a market capitalization of $67.85 million, a P/E ratio of -3.28 and a beta of 1.67. The stock's 50-day simple moving average is $12.49 and its 200-day simple moving average is $10.00.

VirnetX (NYSE:VHC - Get Free Report) last issued its earnings results on Wednesday, May 14th. The technology company reported ($1.01) earnings per share (EPS) for the quarter.

Institutional Inflows and Outflows

An institutional investor recently raised its position in VirnetX stock. Csenge Advisory Group raised its stake in VirnetX Holding Corp (NYSE:VHC - Free Report) by 11.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,002 shares of the technology company's stock after purchasing an additional 2,448 shares during the quarter. Csenge Advisory Group owned about 0.57% of VirnetX worth $177,000 at the end of the most recent quarter. 10.37% of the stock is currently owned by institutional investors.

VirnetX Company Profile

VirnetX Holding Corporation, through its subsidiary VirnetX, Inc, operates as an Internet security software and technology company primarily in the United States. The company develops software and technology solutions, including secure domain name registry and GABRIEL Connection Technology that are designed to secure communications over the Internet using zero trust network access.