VirnetX (NYSE:VHC) Raised to "Hold" at Wall Street Zen

Key Points

• The investment analysts at Wall Street Zen upgraded VirnetX's rating from "sell" to "hold" in a recent research note.
• VirnetX's stock has seen fluctuations within the past year, with a low of $3.68 and a high of $21.53, and it opened at $14.05 on Friday.
• Institutional ownership for VirnetX has increased, with Csenge Advisory Group raising its position by 11.4% during the first quarter.

Wall Street Zen upgraded shares of VirnetX (NYSE:VHC - Free Report) from a sell rating to a hold rating in a report published on Saturday morning.

VirnetX Stock Up 1.8%

Shares of NYSE VHC traded up $0.2350 during trading hours on Friday, reaching $13.2950. 6,139 shares of the stock traded hands, compared to its average volume of 13,281. The company has a market capitalization of $56.78 million, a P/E ratio of -2.77 and a beta of 1.67. VirnetX has a 52-week low of $3.68 and a 52-week high of $21.53. The company's 50-day simple moving average is $13.93 and its two-hundred day simple moving average is $10.47.

VirnetX (NYSE:VHC - Get Free Report) last announced its quarterly earnings data on Tuesday, August 12th. The technology company reported ($0.99) earnings per share 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. Csenge Advisory Group lifted its position in shares of VirnetX Holding Corp (NYSE:VHC - Free Report) by 11.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,002 shares of the technology company's stock after buying an additional 2,448 shares during the period. Csenge Advisory Group owned about 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.

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.