Virnetx (NASDAQ:VHC) Trading Up 0.3% – Here’s Why

Shares of Virnetx Holding Corp (NASDAQ:VHC) traded up 0.3% during mid-day trading on Thursday . The company traded as high as $12.70 and last traded at $12.53. Approximately 11,218 shares changed hands during mid-day trading, a decline of 44% from the average daily volume of 20,048 shares. The stock had previously closed at $12.49.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of Virnetx from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Virnetx in a report on Monday, March 23rd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Virnetx Stock Performance

The company’s fifty day moving average is $14.22. The firm has a market capitalization of $52.50 million, a P/E ratio of -2.43 and a beta of 2.24.

Virnetx (NASDAQ:VHC) last issued its quarterly earnings data on Friday, May 15th. The company reported ($1.16) earnings per share (EPS) for the quarter.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Williams Jones Wealth Management LLC. increased its holdings in shares of Virnetx by 19.0% during the fourth quarter. Williams Jones Wealth Management LLC. now owns 100,165 shares of the company’s stock valued at $1,672,000 after purchasing an additional 16,000 shares during the period. Geode Capital Management LLC raised its stake in shares of Virnetx by 12.6% during the fourth quarter. Geode Capital Management LLC now owns 41,923 shares of the company’s stock valued at $700,000 after purchasing an additional 4,684 shares in the last quarter. Vanguard Group Inc. lifted its holdings 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 purchasing an additional 4,815 shares during the period. State Street Corp lifted its holdings 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 during the period. Finally, HighTower Advisors LLC grew its position in Virnetx by 3.1% in the 4th quarter. HighTower Advisors LLC now owns 20,571 shares of the company’s stock valued at $343,000 after buying an additional 625 shares in the last quarter. Institutional investors and hedge funds 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.