Virnetx (NASDAQ:VHC) Stock Rating Raised to Sell at Wall Street Zen

Virnetx (NASDAQ:VHC) was upgraded by equities research analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a note issued to investors on Saturday, Wall Street Zen reports.

Separately, 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. According to data from MarketBeat, Virnetx presently has a consensus rating of “Sell”.

Virnetx Price Performance

Shares of VHC opened at $9.41 on Friday. Virnetx has a 12 month low of $8.41 and a 12 month high of $25.83. The stock’s 50 day moving average is $10.78 and its two-hundred day moving average is $13.52.

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

Insider Activity

In related news, CEO Kendall Larsen sold 4,425 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $11.17, for a total transaction of $49,427.25. Following the completion of the sale, the chief executive officer directly owned 339,633 shares in the company, valued at approximately $3,793,700.61. The trade was a 1.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 22,000 shares of company stock valued at $249,776 over the last quarter. Insiders own 15.74% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Csenge Advisory Group purchased a new position in shares of Virnetx in the second quarter worth about $868,000. BlackRock Inc. purchased a new stake in Virnetx during the 2nd quarter valued at about $840,000. Finally, Baird Financial Group Inc. acquired a new stake in Virnetx in the 2nd quarter valued at about $356,000. Hedge funds and other institutional investors own 10.37% of the company’s stock.

About Virnetx

VirnetX Holding Corporation is a cybersecurity and secure communications technology company headquartered in Nevada. The company develops software and intellectual property designed to help organizations establish secure, private communications over the internet. Its technology has included the Gabriel Connection Technology platform and related products for secure voice, video, messaging, file sharing and collaboration. VirnetX has also developed secure domain name and network technologies intended to support encrypted, authenticated connections without relying solely on conventional internet security infrastructure.