VirnetX (NYSE:VHC) Stock Passes Above 200 Day Moving Average – Here’s Why

VirnetX Holding Corp (NYSE:VHC) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $15.92 and traded as high as $20.78. VirnetX shares last traded at $19.55, with a volume of 17,848 shares trading hands.

Analysts Set New Price Targets

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 Stock Up 1.8%

The company’s 50-day moving average is $20.50 and its two-hundred day moving average is $15.92. The company has a market capitalization of $83.50 million, a P/E ratio of -4.07 and a beta of 2.09.

Hedge Funds Weigh In On VirnetX

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of VirnetX by 2.9% during the 3rd quarter. Vanguard Group Inc. now owns 172,337 shares of the technology company’s stock worth $2,947,000 after acquiring an additional 4,815 shares during the last quarter. JPMorgan Chase & Co. raised its position in VirnetX by 9,676.5% during the third quarter. JPMorgan Chase & Co. now owns 4,986 shares of the technology company’s stock valued at $85,000 after purchasing an additional 4,935 shares in the last quarter. Csenge Advisory Group lifted its stake in VirnetX by 44.1% during the third quarter. Csenge Advisory Group now owns 59,968 shares of the technology company’s stock worth $1,079,000 after purchasing an additional 18,353 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of VirnetX by 4.2% in the 2nd quarter. Geode Capital Management LLC now owns 32,357 shares of the technology company’s stock worth $351,000 after purchasing an additional 1,318 shares in the last quarter. Institutional investors own 10.37% of the company’s stock.

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.