Virtuix (NASDAQ:VTIX) Lowered to “Strong Sell” Rating by Wall Street Zen

Wall Street Zen lowered shares of Virtuix (NASDAQ:VTIX) from a sell rating to a strong sell rating in a research report report published on Saturday morning.

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

Virtuix Trading Down 2.5%

NASDAQ VTIX opened at $1.57 on Friday. The company has a market capitalization of $45.37 million and a PE ratio of -3.27. Virtuix has a 12 month low of $1.45 and a 12 month high of $92.74. The business has a 50-day moving average of $3.07.

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

Insider Buying and Selling at Virtuix

In related news, CEO Jan Roger Goetgeluk sold 77,432 shares of the company’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $4.04, for a total transaction of $312,825.28. Following the completion of the sale, the chief executive officer directly owned 4,020,279 shares in the company, valued at $16,241,927.16. This represents a 1.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, 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 value of $395,269.59. Following the sale, the chief operating officer directly owned 279,179 shares in the company, valued at approximately $499,730.41. The trade was a 44.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 499,223 shares of company stock valued at $1,112,884.

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.