Virnetx (NASDAQ:VHC) Stock Price Down 0.8% – Here’s Why

Virnetx Holding Corp (NASDAQ:VHC) was down 0.8% on Friday . The stock traded as low as $10.00 and last traded at $10.28. Approximately 11,801 shares changed hands during trading, a decline of 56% from the average daily volume of 26,944 shares. The stock had previously closed at $10.36.

Analyst Upgrades and Downgrades

VHC has been the subject of several research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Virnetx in a research note on Thursday, June 18th. Wall Street Zen lowered Virnetx from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Virnetx presently has an average rating of “Sell”.

Virnetx Stock Performance

The firm has a market cap of $43.07 million, a PE ratio of -1.99 and a beta of 2.29. The stock has a fifty day simple moving average of $13.27.

Virnetx (NASDAQ:VHC) last posted its earnings results on Friday, May 15th. The company reported ($1.16) EPS for the quarter.

Hedge Funds Weigh In On Virnetx

Large investors have recently modified their holdings of the company. Vanguard Group Inc. grew its position in Virnetx by 2.9% during the 3rd quarter. Vanguard Group Inc. now owns 172,337 shares of the company’s stock worth $2,947,000 after acquiring an additional 4,815 shares during the last quarter. Williams Jones Wealth Management LLC. raised its holdings in Virnetx by 19.0% during the 4th quarter. Williams Jones Wealth Management LLC. now owns 100,165 shares of the company’s stock valued at $1,672,000 after buying an additional 16,000 shares during the last quarter. Csenge Advisory Group boosted its position in Virnetx by 13.8% during the 4th quarter. Csenge Advisory Group now owns 68,243 shares of the company’s stock valued at $1,139,000 after buying an additional 8,275 shares during the period. Geode Capital Management LLC grew its holdings in Virnetx by 12.6% in the 4th quarter. Geode Capital Management LLC now owns 41,923 shares of the company’s stock worth $700,000 after acquiring an additional 4,684 shares during the last quarter. Finally, HighTower Advisors LLC increased its position in shares of Virnetx by 3.1% in the fourth quarter. HighTower Advisors LLC now owns 20,571 shares of the company’s stock valued at $343,000 after acquiring an additional 625 shares during the period. 10.37% of the stock is owned by hedge funds and other institutional investors.

About Virnetx

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.