VirnetX (NYSE:VHC) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

VirnetX Holding Corp (NYSE:VHC) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $16.36 and traded as high as $21.49. VirnetX shares last traded at $20.24, with a volume of 6,571 shares changing hands.

Analyst Ratings Changes

Separately, Wall Street Zen raised VirnetX from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th.

VirnetX Price Performance

The firm has a market capitalization of $79.91 million, a PE ratio of -3.90 and a beta of 2.09. The company has a fifty day moving average of $20.86 and a 200-day moving average of $16.44.

Hedge Funds Weigh In On VirnetX

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Csenge Advisory Group lifted its stake in VirnetX by 44.1% in the third quarter. Csenge Advisory Group now owns 59,968 shares of the technology company’s stock valued at $1,079,000 after acquiring an additional 18,353 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of VirnetX by 9,676.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,986 shares of the technology company’s stock valued at $85,000 after purchasing an additional 4,935 shares during the last quarter. Vanguard Group Inc. boosted its holdings in VirnetX by 2.9% in the third quarter. Vanguard Group Inc. now owns 172,337 shares of the technology company’s stock worth $2,947,000 after purchasing an additional 4,815 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in VirnetX by 4.2% during the second quarter. Geode Capital Management LLC now owns 32,357 shares of the technology company’s stock worth $351,000 after buying an additional 1,318 shares during the last quarter. Institutional investors own 10.37% of the company’s stock.

VirnetX Company Profile

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.