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

Key Points

• VirnetX's share price crossed above its 200-day moving average of $10.23, reaching a high of $16.46 before trading at $15.87.
• Analysts at Wall Street Zen recently downgraded VirnetX to a "sell" rating, indicating potential concerns about the stock's performance.
• Csenge Advisory Group increased its stake in VirnetX by 11.4%, indicating growing institutional interest in the company.

VirnetX Holding Corp (NYSE:VHC - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $10.23 and traded as high as $16.46. VirnetX shares last traded at $15.87, with a volume of 3,307 shares.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised VirnetX to a "sell" rating in a research note on Saturday, August 2nd.

VirnetX Trading Up 2.4%

The company has a market cap of $67.28 million, a PE ratio of -3.25 and a beta of 1.67. The business has a 50 day simple moving average of $13.27 and a two-hundred day simple moving average of $10.23.

VirnetX (NYSE:VHC - Get Free Report) last issued its earnings results on Wednesday, May 14th. The technology company reported ($1.01) earnings per share for the quarter.

Institutional Inflows and Outflows

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.