Virnetx (NASDAQ:VHC) Posts Quarterly Earnings Results

Virnetx (NASDAQ:VHC) issued its quarterly earnings results on Friday. The company reported ($1.20) EPS for the quarter, FiscalAI reports.

Virnetx Price Performance

NASDAQ VHC traded down $0.49 during mid-day trading on Friday, reaching $15.00. The stock had a trading volume of 18,856 shares, compared to its average volume of 17,305. The stock has a market cap of $62.85 million, a PE ratio of -2.91 and a beta of 2.30. Virnetx has a 1 year low of $9.82 and a 1 year high of $29.00. The company has a fifty day moving average price of $12.76 and a 200 day moving average price of $14.71.

Institutional Trading of Virnetx

A number of institutional investors and hedge funds have recently modified their holdings of VHC. JPMorgan Chase & Co. boosted its position in shares of Virnetx by 9,676.5% during the third quarter. JPMorgan Chase & Co. now owns 4,986 shares of the company’s stock valued at $85,000 after buying an additional 4,935 shares during the last quarter. State Street Corp lifted its stake in Virnetx by 21.9% during the 4th quarter. State Street Corp now owns 14,447 shares of the company’s stock valued at $241,000 after acquiring an additional 2,600 shares during the period. HighTower Advisors LLC lifted its stake in Virnetx by 3.1% during the 4th 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. Geode Capital Management LLC boosted its holdings in shares of Virnetx by 4.2% during the 2nd quarter. Geode Capital Management LLC now owns 32,357 shares of the company’s stock valued at $351,000 after acquiring an additional 1,318 shares during the last quarter. Finally, BlackRock Inc. purchased a new stake in shares of Virnetx during the 2nd quarter valued at about $840,000. Institutional investors own 10.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on VHC. Wall Street Zen upgraded Virnetx to a “sell” rating in a research note on Sunday, July 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Virnetx in a report on Thursday, June 18th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Virnetx has an average rating of “Sell”.

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.