VirnetX (NYSE:VHC) Releases Quarterly Earnings Results

Key Points

• VirnetX reported a quarterly earnings per share (EPS) of ($0.99), indicating a loss for the period.
• The company's stock price increased by 1.4% during trading, reaching $15.72, with a market capitalization of $66.63 million.
• Geode Capital Management LLC boosted its stake in VirnetX by 4.2%, owning approximately 0.76% of the company after recent increases.

VirnetX (NYSE:VHC - Get Free Report) posted its earnings results on Tuesday. The technology company reported ($0.99) earnings per share (EPS) for the quarter, Zacks reports. The business had revenue of $0.05 million for the quarter.

VirnetX Stock Up 0.3%

Shares of VirnetX stock traded up $0.04 during trading on Friday, reaching $14.05. The company's stock had a trading volume of 8,401 shares, compared to its average volume of 18,206. VirnetX has a 52-week low of $3.68 and a 52-week high of $21.53. The company has a market cap of $59.99 million, a price-to-earnings ratio of -2.93 and a beta of 1.67. The firm's 50-day moving average is $13.68 and its two-hundred day moving average is $10.38.

Institutional Investors Weigh In On VirnetX

An institutional investor recently raised its position in VirnetX stock. Geode Capital Management LLC raised its position in shares of VirnetX Holding Corp (NYSE:VHC - Free Report) by 4.2% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,357 shares of the technology company's stock after buying an additional 1,318 shares during the period. Geode Capital Management LLC owned about 0.76% of VirnetX worth $351,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 10.37% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of VirnetX from a "sell" rating to a "hold" rating in a report on Saturday.

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.