Virnetx (NASDAQ:VHC) Trading Down 1.9% – Here’s What Happened

Virnetx Holding Corp (NASDAQ:VHC) was down 1.9% on Friday . The stock traded as low as $13.00 and last traded at $14.01. Approximately 19,201 shares were traded during trading, an increase of 40% from the average daily volume of 13,674 shares. The stock had previously closed at $14.28.

Analysts Set New Price Targets

A number of analysts have commented on VHC shares. Wall Street Zen cut Virnetx from a “hold” rating to a “sell” rating in a research report on Saturday. Weiss Ratings began coverage on Virnetx in a research note on Wednesday, December 24th. They set a “sell (d-)” rating for the company. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Virnetx Price Performance

The stock has a market cap of $59.82 million, a P/E ratio of -2.85 and a beta of 2.21. The company has a 50-day moving average price of $18.12.

Institutional Trading of Virnetx

Institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its position in 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 buying an additional 4,935 shares during the period. State Street Corp grew its stake in Virnetx by 21.9% in the fourth quarter. State Street Corp now owns 14,447 shares of the company’s stock worth $241,000 after purchasing an additional 2,600 shares in the last quarter. HighTower Advisors LLC increased its holdings in Virnetx by 3.1% during the 4th quarter. HighTower Advisors LLC now owns 20,571 shares of the company’s stock worth $343,000 after purchasing an additional 625 shares during the period. Geode Capital Management LLC increased 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 purchasing an additional 1,318 shares during the period. Finally, Csenge Advisory Group raised its position in Virnetx by 44.1% during the 3rd quarter. Csenge Advisory Group now owns 59,968 shares of the company’s stock valued at $1,079,000 after purchasing an additional 18,353 shares in the last quarter. Institutional investors own 10.37% of the company’s stock.

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.