VirnetX (NYSE:VHC) Stock Price Crosses Above 200 Day Moving Average – What’s Next?

VirnetX Holding Corp (NYSE:VHC)’s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $15.43 and traded as high as $23.37. VirnetX shares last traded at $23.23, with a volume of 18,464 shares trading hands.

Wall Street Analyst Weigh In

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

VirnetX Stock Performance

The stock has a market cap of $99.22 million, a PE ratio of -4.84 and a beta of 1.90. The company’s 50-day moving average price is $19.98 and its two-hundred day moving average price is $15.43.

Institutional Investors Weigh In On VirnetX

Hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in shares of VirnetX by 4.2% during the 2nd quarter. Geode Capital Management LLC now owns 32,357 shares of the technology company’s stock valued at $351,000 after purchasing an additional 1,318 shares during the last quarter. Vanguard Group Inc. boosted its stake 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 buying an additional 4,815 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in VirnetX by 9,676.5% in the third quarter. JPMorgan Chase & Co. now owns 4,986 shares of the technology company’s stock worth $85,000 after buying an additional 4,935 shares in the last quarter. Finally, Csenge Advisory Group grew its position in VirnetX by 44.1% during 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. Institutional investors own 10.37% of the company’s stock.

About VirnetX

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.