Wall Street Zen Downgrades Virnetx (NASDAQ:VHC) to Strong Sell

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

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

Virnetx Trading Down 3.7%

Shares of VHC opened at $11.07 on Friday. The firm has a fifty day simple moving average of $12.65 and a two-hundred day simple moving average of $13.76. The firm has a market cap of $46.38 million, a PE ratio of -2.06 and a beta of 2.28. Virnetx has a 1-year low of $9.82 and a 1-year high of $29.00.

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

Insiders Place Their Bets

In other Virnetx news, CEO Kendall Larsen sold 8,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $4,041,625.84. The trade was a 2.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible 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 worth $249,776 in the last quarter. 15.74% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Baird Financial Group Inc. purchased a new position in shares of Virnetx during the 2nd quarter valued at about $356,000. Csenge Advisory Group bought a new stake in Virnetx during the 2nd quarter worth approximately $868,000. Finally, BlackRock Inc. purchased a new position in Virnetx during the second quarter valued at approximately $840,000. 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.