Insider Selling: Virtuix (NASDAQ:VTIX) COO Sells $395,269.59 in Stock

Virtuix Holdings Inc. (NASDAQ:VTIX) COO David Robert Malcolm Allan sold 220,821 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $1.79, for a total transaction of $395,269.59. Following the completion of the sale, the chief operating officer owned 279,179 shares of the company’s stock, valued at $499,730.41. The trade was a 44.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Virtuix Stock Performance

Shares of VTIX stock traded up $0.10 during trading hours on Thursday, reaching $1.61. 969,762 shares of the company were exchanged, compared to its average volume of 504,150. Virtuix Holdings Inc. has a fifty-two week low of $1.45 and a fifty-two week high of $92.74. The business has a fifty day moving average price of $3.11. The firm has a market cap of $46.53 million and a P/E ratio of -3.35.

Virtuix (NASDAQ:VTIX) last posted its quarterly earnings data on Thursday, June 25th. The company reported ($0.39) earnings per share for the quarter, topping the consensus estimate of ($0.42) by $0.03. The company had revenue of $1.27 million during the quarter.

Analyst Ratings Changes

VTIX has been the subject of several analyst reports. Maxim Group initiated coverage on shares of Virtuix in a research report on Thursday, June 18th. They set a “buy” rating and a $11.00 price target for the company. Weiss Ratings upgraded shares of Virtuix from a “sell (e-)” rating to a “sell (e)” rating in a research report on Wednesday, July 1st. Wall Street Zen lowered 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 analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Virtuix presently has an average rating of “Hold” and an average target price of $11.00.

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.