Virnetx (NASDAQ:VHC) Cut to “Strong Sell” at Wall Street Zen

Wall Street Zen cut shares of Virnetx (NASDAQ:VHC) from a sell rating to a strong sell rating in a research report report published on Sunday,Wall Street Zen reports.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Virnetx in a report on Thursday, June 18th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has a consensus rating of “Sell”.

Virnetx Stock Performance

NASDAQ VHC opened at $11.27 on Friday. Virnetx has a one year low of $9.82 and a one year high of $29.00. The company has a market capitalization of $47.22 million, a price-to-earnings ratio of -2.10 and a beta of 2.28. The company’s 50-day simple moving average is $12.64 and its two-hundred day simple moving average is $13.74.

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

Insider Activity

In other news, CEO Kendall Larsen sold 8,000 shares of the stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $11.48, for a total transaction of $91,840.00. Following the completion of the sale, the chief executive officer owned 352,058 shares in the company, valued at approximately $4,041,625.84. This represents a 2.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 22,000 shares of company stock worth $249,776 over the last 90 days. Corporate insiders own 15.74% of the company’s stock.

Institutional Inflows and Outflows

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

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.