Virnetx (NASDAQ:VHC) Posts Earnings Results

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

Virnetx Price Performance

Shares of Virnetx stock traded up $0.83 on Friday, hitting $14.24. The company had a trading volume of 20,839 shares, compared to its average volume of 21,219. The company has a market capitalization of $59.67 million, a price-to-earnings ratio of -2.84 and a beta of 2.18. Virnetx has a twelve month low of $6.60 and a twelve month high of $29.00. The company has a 50-day simple moving average of $14.90.

Wall Street Analyst Weigh In

VHC has been the subject of a number of analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Virnetx in a report on Monday, March 23rd. Wall Street Zen cut shares of Virnetx from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average rating of “Sell”.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in VHC. JPMorgan Chase & Co. boosted its holdings in shares of Virnetx by 9,676.5% in 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 period. State Street Corp boosted its holdings in shares of Virnetx by 21.9% in the fourth quarter. State Street Corp now owns 14,447 shares of the company’s stock valued at $241,000 after buying an additional 2,600 shares during the period. HighTower Advisors LLC boosted its holdings in shares of Virnetx by 3.1% in the fourth quarter. HighTower Advisors LLC now owns 20,571 shares of the company’s stock valued at $343,000 after buying an additional 625 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Virnetx by 4.2% in the second quarter. Geode Capital Management LLC now owns 32,357 shares of the company’s stock valued at $351,000 after buying an additional 1,318 shares during the period. Finally, Csenge Advisory Group boosted its holdings in shares of Virnetx by 44.1% in the third quarter. Csenge Advisory Group now owns 59,968 shares of the company’s stock valued at $1,079,000 after buying an additional 18,353 shares during the period. Institutional investors and hedge funds 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.