Virtuix Holdings Inc. (NASDAQ:VTIX) Short Interest Up 79.5% in May

Virtuix Holdings Inc. (NASDAQ:VTIX) was the recipient of a large increase in short interest in the month of May. As of May 29th, there was short interest totaling 815,698 shares, an increase of 79.5% from the May 14th total of 454,376 shares. Based on an average daily volume of 1,023,692 shares, the days-to-cover ratio is presently 0.8 days. Currently, 2.8% of the shares of the company are sold short.

Virtuix Price Performance

Shares of Virtuix stock traded down $0.02 during midday trading on Monday, hitting $3.48. 43,514 shares of the company were exchanged, compared to its average volume of 394,831. Virtuix has a 52 week low of $3.00 and a 52 week high of $92.74. The firm has a 50 day simple moving average of $4.43.

Insiders Place Their Bets

In other Virtuix news, CEO Jan Roger Goetgeluk sold 20,279 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $3.58, for a total value of $72,598.82. Following the completion of the sale, the chief executive officer owned 4,000,000 shares in the company, valued at approximately $14,320,000. This trade represents a 0.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders sold 500,000 shares of company stock worth $2,593,993.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Weiss Ratings assumed coverage on Virtuix in a research report on Monday, April 20th. They issued a “sell (e-)” rating for the company. Wall Street Zen downgraded Virtuix from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. Finally, Zacks Research upgraded Virtuix to a “hold” rating in a research report on Tuesday, April 14th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Virtuix currently has a consensus rating of “Reduce”.

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.