VirnetX (NYSE:VHC) Shares Cross Above 200 Day Moving Average – What’s Next?

VirnetX Holding Co. (NYSE:VHC)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $7.01 and traded as high as $9.18. VirnetX shares last traded at $9.11, with a volume of 2,672 shares changing hands.

VirnetX Stock Performance

The firm has a market capitalization of $33.93 million, a P/E ratio of -1.71 and a beta of 1.29. The stock’s 50 day simple moving average is $8.65 and its 200 day simple moving average is $7.04.

Hedge Funds Weigh In On VirnetX

A hedge fund recently raised its stake in VirnetX stock. International Assets Investment Management LLC boosted its holdings in shares of VirnetX Holding Co. (NYSE:VHC) by 647.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,218 shares of the technology company’s stock after acquiring an additional 5,386 shares during the period. International Assets Investment Management LLC owned about 0.17% of VirnetX worth $44,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 10.37% of the stock is currently owned by hedge funds and other institutional investors.

About VirnetX

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.