Virnetx (NASDAQ:VHC) Issues Earnings Results

Virnetx (NASDAQ:VHC) issued its quarterly earnings results on Friday. The company reported ($1.16) earnings per share (EPS) for the quarter, FiscalAI reports.

Virnetx Trading Up 6.2%

Shares of Virnetx stock traded up $0.83 on Friday, hitting $14.24. The stock had a trading volume of 20,839 shares, compared to its average volume of 19,596. The business has a 50 day moving average price of $14.90. Virnetx has a 52-week low of $6.60 and a 52-week high of $29.00. The firm has a market cap of $59.61 million, a PE ratio of -2.84 and a beta of 2.18.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on VHC shares. Wall Street Zen downgraded Virnetx from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. Weiss Ratings restated a “sell (d-)” rating on shares of Virnetx in a research report on Monday, March 23rd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Virnetx presently has an average rating of “Sell”.

Institutional Trading of Virnetx

Several institutional investors and hedge funds have recently added to or reduced their stakes in VHC. Csenge Advisory Group raised its position in Virnetx by 44.1% during the 3rd quarter. Csenge Advisory Group now owns 59,968 shares of the company’s stock worth $1,079,000 after buying an additional 18,353 shares during the last quarter. Geode Capital Management LLC raised its position in Virnetx by 4.2% during the 2nd quarter. Geode Capital Management LLC now owns 32,357 shares of the company’s stock worth $351,000 after buying an additional 1,318 shares during the last quarter. Williams Jones Wealth Management LLC. raised its position in Virnetx by 19.0% during the 4th quarter. Williams Jones Wealth Management LLC. now owns 100,165 shares of the company’s stock worth $1,672,000 after buying an additional 16,000 shares during the last quarter. Vanguard Group Inc. raised its position in Virnetx by 2.9% during the 3rd quarter. Vanguard Group Inc. now owns 172,337 shares of the company’s stock worth $2,947,000 after buying an additional 4,815 shares during the last quarter. Finally, HighTower Advisors LLC raised its position in Virnetx by 3.1% during the 4th quarter. HighTower Advisors LLC now owns 20,571 shares of the company’s stock worth $343,000 after buying an additional 625 shares during the last quarter. 10.37% of the stock is owned by hedge funds and other institutional investors.

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.