Virnetx (NASDAQ:VHC) Trading Up 11.2% – Here’s What Happened

Virnetx Holding Corp (NASDAQ:VHC) was up 11.2% on Wednesday . The company traded as high as $15.58 and last traded at $15.31. Approximately 69,401 shares traded hands during mid-day trading, an increase of 490% from the average daily volume of 11,757 shares. The stock had previously closed at $13.77.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on VHC shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Virnetx in a research report on Monday, March 23rd. Wall Street Zen cut shares of Virnetx from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of “Sell”.

Virnetx Trading Up 19.7%

The firm has a 50 day simple moving average of $14.47. The company has a market capitalization of $73.12 million, a PE ratio of -3.38 and a beta of 2.18.

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

Institutional Trading of Virnetx

Hedge funds and other institutional investors have recently modified their holdings of the stock. Williams Jones Wealth Management LLC. grew its stake in shares of Virnetx by 19.0% in the fourth quarter. Williams Jones Wealth Management LLC. now owns 100,165 shares of the company’s stock worth $1,672,000 after purchasing an additional 16,000 shares during the last quarter. Csenge Advisory Group grew its stake in shares of Virnetx by 13.8% in the fourth quarter. Csenge Advisory Group now owns 68,243 shares of the company’s stock worth $1,139,000 after purchasing an additional 8,275 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Virnetx by 9,676.5% in the third quarter. JPMorgan Chase & Co. now owns 4,986 shares of the company’s stock worth $85,000 after purchasing an additional 4,935 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of 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 last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Virnetx by 12.6% in the fourth quarter. Geode Capital Management LLC now owns 41,923 shares of the company’s stock worth $700,000 after purchasing an additional 4,684 shares during 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.