Virnetx (NASDAQ:VHC) Lowered to Sell Rating by Wall Street Zen

Virnetx (NASDAQ:VHC) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

Separately, Weiss Ratings initiated coverage on Virnetx in a research report on Wednesday, December 24th. They set a “sell (d-)” rating for the company. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of “Sell”.

Virnetx Stock Performance

Shares of VHC opened at $14.01 on Friday. The company’s fifty day moving average is $18.12. The stock has a market cap of $59.82 million, a price-to-earnings ratio of -2.85 and a beta of 2.21. Virnetx has a 1-year low of $6.60 and a 1-year high of $29.00.

Institutional Investors Weigh In On Virnetx

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in Virnetx by 2.9% during the third quarter. Vanguard Group Inc. now owns 172,337 shares of the company’s stock valued at $2,947,000 after acquiring an additional 4,815 shares during the period. Williams Jones Wealth Management LLC. boosted 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 acquiring an additional 16,000 shares during the period. Csenge Advisory Group boosted 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 acquiring an additional 8,275 shares during the period. Geode Capital Management LLC boosted 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 acquiring an additional 4,684 shares during the period. Finally, HighTower Advisors LLC grew its position in shares of Virnetx by 3.1% during the fourth quarter. HighTower Advisors LLC now owns 20,571 shares of the company’s stock worth $343,000 after purchasing an additional 625 shares in the last quarter. Institutional investors own 10.37% of the company’s stock.

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.