VirnetX (NYSE:VHC) Share Price Passes Above 200-Day Moving Average of $1.62

Shares of VirnetX Holding Corp (NYSE:VHCGet Rating) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.62 and traded as high as $1.94. VirnetX shares last traded at $1.86, with a volume of 309,733 shares.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of VirnetX to a “sell” rating in a research report on Thursday, June 2nd.

VirnetX Price Performance

The firm’s 50-day moving average price is $1.34 and its two-hundred day moving average price is $1.62.

VirnetX (NYSE:VHCGet Rating) last announced its quarterly earnings results on Friday, May 13th. The technology company reported ($0.05) earnings per share for the quarter. VirnetX had a negative return on equity of 10.44% and a negative net margin of 56,565.71%. The business had revenue of $0.01 million during the quarter.

Insider Buying and Selling

In other news, CEO Kendall Larsen acquired 40,650 shares of VirnetX stock in a transaction that occurred on Friday, May 20th. The stock was purchased at an average price of $1.20 per share, for a total transaction of $48,780.00. Following the purchase, the chief executive officer now directly owns 636,527 shares in the company, valued at approximately $763,832.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders bought a total of 44,951 shares of company stock worth $53,810 in the last 90 days. 13.89% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Csenge Advisory Group increased its stake in shares of VirnetX by 3.0% in the fourth quarter. Csenge Advisory Group now owns 170,585 shares of the technology company’s stock worth $725,000 after acquiring an additional 5,000 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of VirnetX by 6.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 172,206 shares of the technology company’s stock worth $281,000 after acquiring an additional 10,013 shares during the period. Cutter & CO Brokerage Inc. increased its stake in shares of VirnetX by 12.7% in the first quarter. Cutter & CO Brokerage Inc. now owns 106,600 shares of the technology company’s stock worth $174,000 after acquiring an additional 12,000 shares during the period. ProShare Advisors LLC acquired a new stake in shares of VirnetX in the fourth quarter worth $36,000. Finally, Virtu Financial LLC acquired a new stake in shares of VirnetX in the first quarter worth $29,000. Institutional investors and hedge funds own 30.76% of the company’s stock.

About VirnetX

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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.

Further Reading

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