VirnetX (NYSE:VHC) Upgraded by StockNews.com to “Sell”

VirnetX (NYSE:VHCGet Rating) was upgraded by StockNews.com to a “sell” rating in a research note issued on Thursday.

Shares of NYSE VHC opened at $1.20 on Thursday. The business’s 50 day moving average price is $1.50 and its 200-day moving average price is $2.09. VirnetX has a fifty-two week low of $1.06 and a fifty-two week high of $5.04. The company has a market cap of $85.48 million, a price-to-earnings ratio of -2.11 and a beta of 0.74.

In other VirnetX news, CEO Kendall Larsen purchased 40,650 shares of VirnetX stock in a transaction dated Friday, May 20th. The shares were purchased at an average cost of $1.20 per share, for a total transaction of $48,780.00. Following the completion of the acquisition, the chief executive officer now owns 636,527 shares in the company, valued at approximately $763,832.40. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last quarter, insiders bought 44,951 shares of company stock worth $53,810. Company insiders own 13.79% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Virtu Financial LLC purchased a new position in VirnetX during the 1st quarter worth $29,000. Goldman Sachs Group Inc. increased its holdings in shares of VirnetX by 48.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 57,176 shares of the technology company’s stock valued at $93,000 after acquiring an additional 18,782 shares during the period. Invesco Ltd. increased its holdings in shares of VirnetX by 880.4% in the 1st quarter. Invesco Ltd. now owns 175,191 shares of the technology company’s stock valued at $285,000 after acquiring an additional 157,321 shares during the period. Williams Jones Wealth Management LLC. increased its holdings in shares of VirnetX by 53.2% in the 1st quarter. Williams Jones Wealth Management LLC. now owns 286,361 shares of the technology company’s stock valued at $467,000 after acquiring an additional 99,500 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in shares of VirnetX in the 1st quarter valued at $650,000. Institutional investors own 30.76% of the company’s stock.

VirnetX Company Profile (Get Rating)

VirnetX Holding Corporation, through its subsidiary VirnetX, Inc, operates as an Internet security software and technology company primarily in the United States. The company develops software and technology solutions, including secure domain name registry and GABRIEL Connection Technology that are designed to secure communications over the Internet using zero trust network access.

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