Virtuix (NASDAQ:VTIX) COO David Robert Malcolm Allan Sells 220,821 Shares of Stock

Virtuix Holdings Inc. (NASDAQ:VTIX) COO David Robert Malcolm Allan sold 220,821 shares of the company’s stock in a transaction that occurred 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 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. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Virtuix Trading Up 6.6%

Shares of NASDAQ:VTIX opened at $1.61 on Friday. The company’s fifty day moving average is $3.11. The firm has a market cap of $46.53 million and a PE ratio of -3.35. Virtuix Holdings Inc. has a one year low of $1.45 and a one year high of $92.74.

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

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Maxim Group initiated coverage on shares of Virtuix in a report on Thursday, June 18th. They issued 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. Wall Street Zen cut shares of Virtuix from a “hold” rating to a “sell” rating in a research note on Saturday, June 6th. Finally, Zacks Research upgraded Virtuix to a “hold” rating in a report on Tuesday, April 14th. One investment 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 a consensus 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.