Virnetx (NASDAQ:VHC) Shares Up 4.1% – What’s Next?

Virnetx Holding Corp (NASDAQ:VHC)’s share price traded up 4.1% on Thursday. The company traded as high as $12.42 and last traded at $12.30. 40,911 shares traded hands during mid-day trading, a decline of 48% from the average daily volume of 78,602 shares. The stock had previously closed at $11.81.

Wall Street Analyst Weigh In

A number of research analysts recently commented on VHC shares. Wall Street Zen downgraded shares of Virnetx from a “sell” rating to a “strong sell” rating in a report on Sunday, September 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Virnetx in a research report on Monday, September 14th. One investment analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, Virnetx presently has a consensus rating of “Sell”.

Virnetx Stock Performance

The stock has a fifty day moving average of $12.46 and a 200-day moving average of $13.21. The company has a market cap of $48.25 million, a PE ratio of -2.14 and a beta of 2.29.

Virnetx (NASDAQ:VHC) last released its earnings results on Friday, August 14th. The company reported ($1.20) earnings per share for the quarter.

Insider Activity at Virnetx

In related news, CEO Kendall Larsen sold 8,000 shares of the firm’s stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $11.48, for a total value of $91,840.00. Following the transaction, the chief executive officer owned 352,058 shares of the company’s stock, valued at $4,041,625.84. This trade represents a 2.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 22,000 shares of company stock valued at $249,776 in the last quarter. Corporate insiders own 15.74% of the company’s stock.

Hedge Funds Weigh In On Virnetx

A number of hedge funds have recently added to or reduced their stakes in VHC. Csenge Advisory Group purchased a new position in shares of Virnetx during the second quarter worth approximately $868,000. BlackRock Inc. purchased a new stake in shares of Virnetx in the second quarter valued at approximately $840,000. Finally, Baird Financial Group Inc. bought a new position in Virnetx in the second quarter worth approximately $356,000. 10.37% of the stock is currently owned by institutional investors.

Virnetx Company Profile

VirnetX Holding Corporation is a cybersecurity and communications technology company focused on secure, private, and authenticated communications over the Internet. The company has developed technologies designed to help establish trusted connections between users, devices, and applications without relying solely on conventional network security methods.

Its product and technology portfolio has included the Gabriel Connection Technology platform, which supports secure domain-name resolution, encrypted communications, and protected connections for applications and connected devices.