Virtuix (NASDAQ:VTIX) Cut to Strong Sell at Wall Street Zen

Wall Street Zen lowered shares of Virtuix (NASDAQ:VTIX) from a sell rating to a strong sell rating in a research note issued to investors on Saturday.

A number of other equities analysts have also recently commented on VTIX. Maxim Group started coverage on Virtuix in a report on Thursday, June 18th. They set a “buy” rating and a $11.00 price target for the company. Weiss Ratings upgraded Virtuix from a “sell (e-)” rating to a “sell (e)” rating in a research note on Wednesday, July 1st. Finally, Zacks Research raised Virtuix to a “hold” rating in a research report on Tuesday, April 14th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $11.00.

Virtuix Price Performance

NASDAQ VTIX opened at $1.56 on Friday. The company has a market capitalization of $46.58 million and a price-to-earnings ratio of -3.25. The stock’s fifty day moving average price is $3.04. Virtuix has a 1 year low of $1.42 and a 1 year high of $92.74.

Virtuix (NASDAQ:VTIX) last announced its quarterly earnings data on Thursday, June 25th. The company reported ($0.39) EPS for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.03. The firm had revenue of $1.27 million during the quarter.

Insider Transactions at Virtuix

In other Virtuix news, CEO Jan Roger Goetgeluk sold 20,279 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $3.58, for a total transaction of $72,598.82. Following the completion of the sale, the chief executive officer directly owned 4,000,000 shares in the company, valued at $14,320,000. This trade represents a 0.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO David Robert Malcolm Allan sold 220,821 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $1.79, for a total value of $395,269.59. Following the sale, the chief operating officer owned 279,179 shares of the company’s stock, valued at approximately $499,730.41. This represents a 44.16% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 397,614 shares of company stock worth $715,439.

About Virtuix

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.