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

VirnetX Holding Corp (NYSE:VHC) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-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 changing hands.

Wall Street Analysts Forecast Growth

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

VirnetX Price Performance

The stock’s 50 day moving average is $20.23 and its two-hundred day moving average is $15.54. The firm has a market capitalization of $98.49 million, a P/E ratio of -4.80 and a beta of 1.90.

Institutional Investors Weigh In On VirnetX

A number of institutional investors have recently made changes to their positions in VHC. Csenge Advisory Group increased its holdings 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 purchasing an additional 18,353 shares during the last quarter. JPMorgan Chase & Co. increased 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 acquiring an additional 4,935 shares during the last quarter. Vanguard Group Inc. raised its position in shares of VirnetX by 2.9% in the 3rd quarter. Vanguard Group Inc. now owns 172,337 shares of the technology company’s stock valued at $2,947,000 after acquiring an additional 4,815 shares during the period. Finally, Geode Capital Management LLC boosted its stake in VirnetX by 4.2% during the 2nd quarter. Geode Capital Management LLC now owns 32,357 shares of the technology company’s stock worth $351,000 after acquiring an additional 1,318 shares during the last quarter. 10.37% of the stock is owned by institutional investors and hedge funds.

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.