VirnetX Holding Co. (NYSE:VHC) Sees Large Drop in Short Interest
VirnetX Holding Co. (NYSE:VHC) was the recipient of a significant decline in short interest in the month of July. As of July 14th, there was short interest totalling 13,667,688 shares, a decline of 1.3% from the June 30th total of 13,840,816 shares. Based on an average daily trading volume, of 220,980 shares, the short-interest ratio is currently 61.9 days. Approximately 27.3% of the company’s shares are sold short.
Large investors have recently made changes to their positions in the stock. State Street Corp raised its stake in shares of VirnetX Holding by 4.9% in the fourth quarter. State Street Corp now owns 806,262 shares of the technology company’s stock worth $1,773,000 after buying an additional 37,838 shares in the last quarter. Morgan Stanley raised its stake in shares of VirnetX Holding by 3.9% in the first quarter. Morgan Stanley now owns 702,429 shares of the technology company’s stock worth $1,615,000 after buying an additional 26,372 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of VirnetX Holding by 8.7% in the first quarter. Bank of New York Mellon Corp now owns 207,871 shares of the technology company’s stock worth $477,000 after buying an additional 16,720 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of VirnetX Holding by 6.2% in the first quarter. Schwab Charles Investment Management Inc. now owns 153,155 shares of the technology company’s stock worth $353,000 after buying an additional 8,892 shares in the last quarter.
VirnetX Holding (NYSE VHC) opened at 3.65 on Wednesday. VirnetX Holding has a 12-month low of $1.70 and a 12-month high of $5.40. The stock has a 50 day moving average price of $4.63 and a 200 day moving average price of $3.13. The stock’s market cap is $212.23 million.
Separately, ValuEngine downgraded VirnetX Holding from a “hold” rating to a “sell” rating in a report on Thursday, June 15th.
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About VirnetX Holding
VirnetX Holding Corporation is an Internet security software and technology Company with a technology for secure communications, including fourth-generation (4G) long term evolution (LTE) security. The Company’s software and technology solutions, including its secure domain name registry and GABRIEL Connection Technology, facilitate secure communications and provide the security platform required by Internet-based applications, such as instant messaging, voice over Internet protocol, mobile services, streaming video, file transfer, remote desktop and machine-to-machine (M2M) communications.
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