VirnetX (NYSE:VHC) Share Price Crosses Above 200-Day Moving Average - Here's What Happened

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.

Shares of VirnetX Holding Corp (NYSE:VHC - Get Free Report) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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.

Analysts Set New Price Targets

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

VirnetX Stock Performance

The company has a market capitalization of $74.11 million, a PE ratio of -3.62 and a beta of 1.74. The company's 50-day simple moving average is $15.80 and its 200-day simple moving average is $11.12.

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

Institutional Inflows and Outflows

A hedge fund recently raised its stake in VirnetX stock. Csenge Advisory Group increased its stake in shares of VirnetX Holding Corp (NYSE:VHC - Free Report) by 11.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,002 shares of the technology company's stock after purchasing an additional 2,448 shares during the quarter. Csenge Advisory Group owned 0.57% of VirnetX worth $177,000 as of its most recent SEC filing. 10.37% of the stock is currently 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.

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