Virnetx (NASDAQ:VHC) Trading 4.3% Higher – Should You Buy?

Virnetx Holding Corp (NASDAQ:VHC)’s share price shot up 4.3% during mid-day trading on Monday . The company traded as high as $13.75 and last traded at $13.56. 23,283 shares changed hands during mid-day trading, an increase of 20% from the average session volume of 19,397 shares. The stock had previously closed at $13.00.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on VHC. Weiss Ratings reiterated a “sell (d-)” rating on shares of Virnetx in a research note on Thursday, June 18th. Wall Street Zen upgraded Virnetx to a “sell” rating in a research note on Sunday, July 12th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Virnetx Stock Up 12.5%

The stock has a market cap of $63.94 million, a P/E ratio of -2.96 and a beta of 2.30. The firm’s 50 day simple moving average is $12.88 and its two-hundred day simple moving average is $15.05.

Virnetx (NASDAQ:VHC) last posted its quarterly earnings results on Friday, May 15th. The company reported ($1.16) earnings per share (EPS) for the quarter.

Hedge Funds Weigh In On Virnetx

A number of large investors have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its holdings in shares of Virnetx by 9,676.5% during the third quarter. JPMorgan Chase & Co. now owns 4,986 shares of the company’s stock valued at $85,000 after purchasing an additional 4,935 shares during the last quarter. HighTower Advisors LLC lifted its holdings in shares of Virnetx by 3.1% in the 4th quarter. HighTower Advisors LLC now owns 20,571 shares of the company’s stock worth $343,000 after purchasing an additional 625 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Virnetx by 4.2% in the 2nd quarter. Geode Capital Management LLC now owns 32,357 shares of the company’s stock worth $351,000 after purchasing an additional 1,318 shares during the last quarter. Williams Jones Wealth Management LLC. boosted 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 valued at $1,672,000 after purchasing an additional 16,000 shares during the period. Finally, Vanguard Group Inc. boosted its position in Virnetx by 2.9% during the 3rd quarter. Vanguard Group Inc. now owns 172,337 shares of the company’s stock valued at $2,947,000 after purchasing an additional 4,815 shares during the period. 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.