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

VirnetX Holding Corp (NYSE:VHC) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $18.43 and traded as high as $22.65. VirnetX shares last traded at $22.41, with a volume of 12,281 shares.

VirnetX Price Performance

The firm’s 50-day moving average price is $20.06 and its 200 day moving average price is $18.50. The firm has a market capitalization of $95.33 million, a price-to-earnings ratio of -4.65 and a beta of 2.15.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in VHC. Csenge Advisory Group raised its position in shares of VirnetX by 44.1% in the 3rd quarter. Csenge Advisory Group now owns 59,968 shares of the technology company’s stock worth $1,079,000 after buying an additional 18,353 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of VirnetX by 9,676.5% in the 3rd 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. Vanguard Group Inc. grew 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 purchasing an additional 4,815 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of VirnetX by 4.2% during the second quarter. Geode Capital Management LLC now owns 32,357 shares of the technology company’s stock valued at $351,000 after purchasing an additional 1,318 shares during the period. Institutional investors and hedge funds own 10.37% of the company’s stock.

VirnetX Company Profile

VirnetX Holding Corporation (NYSE: VHC) is a patent licensing and technology development company specializing in secure communications and networking. The company’s core business centers on the design, development and monetization of patented software solutions that enable secure domain name system (SDNS) protocols, end-to-end encryption, and real-time collaboration across voice, video and messaging services.

At the heart of VirnetX’s offerings is its proprietary “GABRIEL” technology, an SDNS platform that underpins encrypted voice-over-IP (VoIP), video conferencing and secure messaging applications.