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

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

A number of other brokerages also recently commented on VTIX. Maxim Group began coverage on shares of Virtuix in a research note on Thursday, June 18th. They set a “buy” rating and a $11.00 target price on the stock. Weiss Ratings raised shares of 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 given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $11.00.

Virtuix Stock Down 3.2%

Shares of VTIX opened at $1.21 on Friday. Virtuix has a 52-week low of $1.16 and a 52-week high of $92.74. The company has a quick ratio of 0.61, a current ratio of 0.71 and a debt-to-equity ratio of 0.80. The stock has a fifty day simple moving average of $2.40 and a two-hundred day simple moving average of $4.31. The company has a market capitalization of $36.26 million and a PE ratio of -2.52.

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

Insider Buying and Selling at Virtuix

In related news, COO David Robert Malcolm Allan sold 220,821 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was 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 directly owned 279,179 shares of the company’s stock, valued at approximately $499,730.41. This trade represents a 44.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders sold 503,985 shares of company stock worth $836,094. Corporate 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.