The stock of VirnetX Holding Corporation (NYSEMKT:VHC) hit a new 52-week low and has $2.12 target or 14.00% below today’s $2.47 share price. The 7 months bearish chart indicates high risk for the $143.22 million company. The 1-year low was reported on Dec, 12 by Barchart.com. If the $2.12 price target is reached, the company will be worth $20.05 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. The stock decreased 8.52% or $0.23 on December 11, hitting $2.47. About 417,468 shares traded hands or 7.45% up from the average. VirnetX Holding Corporation (NYSEMKT:VHC) has declined 59.38% since May 11, 2015 and is downtrending. It has underperformed by 54.96% the S&P500.
According to Zacks Investment Research, “VirnetX Holding Corporation is engaged in developing products for real-time communications such as Instant Messaging and Voice over Internet Protocol, commercializing its patent portfolio and providing contract research, prototyping, systems integration and technical services.” Get a free copy of the Zacks research report on VirnetX Holding Corporation (VHC).
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