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

VirnetX Holding Corp (NYSE:VHC) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $17.25 and traded as high as $18.25. VirnetX shares last traded at $17.29, with a volume of 26,373 shares changing hands.

VirnetX Trading Down 3.9%

The firm’s 50-day moving average is $20.91 and its two-hundred day moving average is $17.25. The stock has a market cap of $73.85 million, a price-to-earnings ratio of -3.60 and a beta of 2.09.

Hedge Funds Weigh In On VirnetX

Several hedge funds and other institutional investors have recently made changes to their positions in VHC. JPMorgan Chase & Co. boosted its stake in shares of 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 acquiring an additional 4,935 shares during the last quarter. Geode Capital Management LLC raised its stake in VirnetX by 4.2% in 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. Csenge Advisory Group lifted its holdings in VirnetX by 44.1% in the 3rd quarter. Csenge Advisory Group now owns 59,968 shares of the technology company’s stock valued at $1,079,000 after purchasing an additional 18,353 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in VirnetX by 2.9% during the 3rd 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 during the last quarter. Hedge funds and other institutional investors own 10.37% of the company’s stock.

About VirnetX

VirnetX Holding Corporation (NYSE: VHC) is a patent licensing and technology development company specializing in secure communications and networking. The company’s core business centers on the design, development and monetization of patented software solutions that enable secure domain name system (SDNS) protocols, end-to-end encryption, and real-time collaboration across voice, video and messaging services.

At the heart of VirnetX’s offerings is its proprietary “GABRIEL” technology, an SDNS platform that underpins encrypted voice-over-IP (VoIP), video conferencing and secure messaging applications.