Virtuix (NASDAQ:VTIX) Downgraded to Strong Sell Rating by Wall Street Zen

Wall Street Zen cut shares of Virtuix (NASDAQ:VTIX) from a sell rating to a strong sell rating in a report released on Sunday morning.

A number of other research firms have also weighed in on VTIX. Maxim Group began coverage on Virtuix in a research note on Thursday, June 18th. They set a “buy” rating and a $11.00 price objective 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. One equities research 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’s stock. According to data from MarketBeat.com, Virtuix has a consensus rating of “Hold” and an average price target of $11.00.

Virtuix Price Performance

NASDAQ:VTIX opened at $1.30 on Friday. The firm has a market capitalization of $38.96 million and a P/E ratio of -2.71. Virtuix has a 1-year low of $1.16 and a 1-year high of $92.74. The company’s fifty day moving average price is $2.49 and its 200-day moving average price is $4.38. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.71 and a quick ratio of 0.61.

Virtuix (NASDAQ:VTIX) last issued its earnings results on Wednesday, August 19th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.25) by $0.03. The business had revenue of $0.77 million for the quarter. As a group, equities research analysts anticipate that Virtuix will post -0.67 EPS for the current year.

Insider Activity

In related news, COO David Robert Malcolm Allan sold 220,821 shares of the business’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $1.79, for a total value of $395,269.59. Following the completion of the transaction, the chief operating officer directly owned 279,179 shares in the company, valued at $499,730.41. The trade was a 44.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last ninety days, insiders have sold 503,985 shares of company stock valued at $836,094. Insiders own 28.63% of the company’s stock.

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.