VirnetX (NYSE:VHC) Stock Crosses Above 200-Day Moving Average - Here's Why

Key Points

• VirnetX shares exceeded their 200-day moving average of $10.57, trading as high as $14.26 before settling at $12.60.
• Analysts at Wall Street Zen upgraded VirnetX from a "sell" rating to a "hold" rating, reflecting a potential shift in investor sentiment.
• The company's financial performance showed a net loss of ($0.99) earnings per share (EPS) with only $0.05 million in revenue for the most recent quarter.

VirnetX Holding Corp (NYSE:VHC - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $10.57 and traded as high as $14.26. VirnetX shares last traded at $12.60, with a volume of 15,027 shares.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of VirnetX from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th.

VirnetX Price Performance

The stock's fifty day moving average is $14.67 and its 200-day moving average is $10.71. The stock has a market capitalization of $58.76 million, a PE ratio of -2.87 and a beta of 1.74.

VirnetX (NYSE:VHC - Get Free Report) last announced its quarterly earnings results 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 for the quarter.

Hedge Funds Weigh In On VirnetX

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