Insider Selling: Vringo Insider Sells 587,243 Shares of Stock (VRNG)
Vringo (NASDAQ:VRNG) Insider Andrew Kennedy Lang sold 587,243 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $5.19, for a total value of $3,047,791.17. Following the transaction, the insider now directly owns 2,769,204 shares in the company, valued at approximately $14,372,169. The sale was disclosed in a document filed with the SEC, which is available at this link.
Vringo (NASDAQ:VRNG) traded down 0.23% during mid-day trading on Friday, hitting $4.29. The stock had a trading volume of 6,563,959 shares. Vringo has a 52-week low of $2.61 and a 52-week high of $5.45. The stock has a 50-day moving average of $3.31 and a 200-day moving average of $3.10. The company’s market cap is $360.9 million. Vringo also saw some unusual options trading on Wednesday. Stock traders purchased 33,379 call options on the company. This represents an increase of 367% compared to the typical daily volume of 7,140 call options.
Vringo (NASDAQ:VRNG) last released its earnings data on Thursday, November 7th. The company reported ($0.13) earnings per share (EPS) for the quarter. On average, analysts predict that Vringo will post $-0.50 earnings per share for the current fiscal year.
A number of research firms have recently commented on VRNG. 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.
Vringo, Inc (NASDAQ:VRNG) is a development-stage company.
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