VirnetX (NYSE:VHC) Stock Price Passes Above 200-Day Moving Average - Should You Sell?

Key Points

• VirnetX Holding Corp shares crossed above the 200-day moving average of $11.12, trading at a high of $18.79 before settling at $17.36.
• Wall Street Zen upgraded the stock from a "sell" to a "hold" rating as of August 16th.
• The company reported a loss of ($0.99) earnings per share with revenue of only $0.05 million for the last quarter.

VirnetX Holding Corp (NYSE:VHC - Get Free Report)'s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $11.12 and traded as high as $18.79. VirnetX shares last traded at $17.36, with a volume of 13,791 shares.

Wall Street Analyst Weigh In

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

VirnetX Trading Down 2.8%

The firm has a market cap of $70.35 million, a PE ratio of -3.43 and a beta of 1.74. The company has a 50 day moving average price of $16.17 and a 200 day moving average price of $11.36.

VirnetX (NYSE:VHC - Get Free Report) last issued its quarterly earnings data on Tuesday, August 12th. The technology company reported ($0.99) earnings per share (EPS) for the quarter. The company had revenue of $0.05 million during the quarter.

Hedge Funds Weigh In On VirnetX

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

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.