Insider Selling: Virtuix (NASDAQ:VTIX) Director Sells $10,353.00 in Stock

Virtuix Holdings Inc. (NASDAQ:VTIX) Director Brett Moyer sold 8,700 shares of Virtuix stock in a transaction dated Monday, September 28th. The stock was sold at an average price of $1.19, for a total value of $10,353.00. Following the completion of the sale, the director owned 154,958 shares of the company’s stock, valued at $184,400.02. The trade was a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Virtuix Price Performance

VTIX opened at $1.23 on Thursday. The company’s 50-day simple moving average is $1.44 and its two-hundred day simple moving average is $3.40. Virtuix Holdings Inc. has a 52-week low of $0.92 and a 52-week high of $92.74. The stock has a market capitalization of $36.86 million and a P/E ratio of -1.76. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.61 and a current ratio of 0.71.

Virtuix (NASDAQ:VTIX) last released its quarterly earnings data 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 company had revenue of $0.77 million for the quarter. As a group, analysts predict that Virtuix Holdings Inc. will post -0.67 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on VTIX. Maxim Group assumed coverage on Virtuix in a research report on Thursday, June 18th. They set a “buy” rating and a $11.00 price objective for the company. Wall Street Zen cut Virtuix from a “sell” rating to a “strong sell” rating in a research report on Sunday, August 23rd. Finally, Weiss Ratings restated a “sell (e)” rating on shares of Virtuix in a research note on Monday. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $11.00.

Virtuix Company Profile

Virtuix, Inc is a virtual reality technology company that develops immersive gaming systems and accessories. Its flagship product, Omni One, is a consumer virtual reality platform centered on an omnidirectional treadmill that allows users to walk, run, and move naturally within compatible VR games while remaining in a defined physical space.

The company also offers VR content and software designed to work with its hardware. Virtuix has developed Omni Arena, a commercial location-based virtual reality esports experience intended for venues such as arcades, entertainment centers, and other out-of-home gaming facilities.

Virtuix was founded in 2013 by Jan Goetgeluk, who serves as the company’s chief executive officer.