Virtuix (NASDAQ:VTIX) Coverage Initiated at Maxim Group

Equities research analysts at Maxim Group initiated coverage on shares of Virtuix (NASDAQ:VTIX) in a report issued on Thursday. The firm set a “buy” rating and a $11.00 price target on the stock. Maxim Group’s target price would suggest a potential upside of 216.09% from the company’s current price.

A number of other equities research analysts have also issued reports on the stock. Weiss Ratings began coverage on shares of Virtuix in a report on Monday, April 20th. They set a “sell (e-)” rating on the stock. Wall Street Zen cut shares of Virtuix from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. Finally, Zacks Research upgraded Virtuix to a “hold” rating in a report on Tuesday, April 14th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $11.00.

Virtuix Stock Performance

Shares of NASDAQ VTIX opened at $3.48 on Thursday. The stock has a fifty day moving average of $4.28. Virtuix has a 52-week low of $3.00 and a 52-week high of $92.74.

Insider Buying and Selling

In related news, CEO Jan Roger Goetgeluk sold 112,563 shares of the business’s stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $6.96, for a total transaction of $783,438.48. Following the transaction, the chief executive officer directly owned 4,309,689 shares of the company’s stock, valued at approximately $29,995,435.44. The trade was a 2.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have sold 500,000 shares of company stock worth $2,593,993 over the last quarter.

Virtuix Company Profile

Virtuix (NASDAQ:VTIX) is a company that develops and commercializes hardware and software for immersive virtual reality (VR) locomotion and related experiences. Its core focus is on enabling natural movement inside virtual environments through purpose-built platforms and systems that pair motion-control hardware with software integrations for games, training and location-based entertainment.

The company is best known for its Omni family of omnidirectional locomotion platforms, which are designed to allow users to walk, run and maneuver in 360 degrees within a virtual space while remaining stationary in the real world.