Insider Selling: Alexander R. Berger Sells 250,000 Shares of Vringo Stock (VRNG)
Vringo (NASDAQ:VRNG) COO Alexander R. Berger unloaded 250,000 shares of the stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $5.03, for a total transaction of $1,257,500.00. Following the sale, the chief operating officer now directly owns 609,115 shares in the company, valued at approximately $3,063,848. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
A number of analysts have recently weighed in on VRNG shares. Analysts at Maxim Group raised their price target on shares of Vringo from $5.00 to $7.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock. Analysts at Dawson James initiated coverage on shares of Vringo in a research note to investors on Wednesday, November 6th. They set a “buy” rating and a $5.25 price target on the stock.
Shares of Vringo (NASDAQ:VRNG) traded down 0.23% on Friday, hitting $4.29. 6,563,959 shares of the company’s stock traded hands. Vringo has a 1-year low of $2.61 and a 1-year high of $5.45. The stock’s 50-day moving average is $3.31 and its 200-day moving average is $3.10. The company’s market cap is $360.9 million. Vringo also was the target of unusually large options trading activity on Wednesday. Investors purchased 33,379 call options on the company. This represents an increase of approximately 367% compared to the average daily volume of 7,140 call options.
Vringo (NASDAQ:VRNG) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.13) earnings per share for the quarter. Analysts expect that Vringo will post $-0.50 EPS for the current fiscal year.
Vringo, Inc (NASDAQ:VRNG) is a development-stage company.
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