Virtuix (NASDAQ:VTIX) Announces Earnings Results, Beats Expectations By $0.03 EPS

Virtuix (NASDAQ:VTIX) announced its earnings results on Thursday. The company reported ($0.39) earnings per share for the quarter, beating the consensus estimate of ($0.42) by $0.03, Zacks reports.

Virtuix Price Performance

NASDAQ:VTIX opened at $3.13 on Thursday. The business’s fifty day moving average is $3.99. Virtuix has a 12 month low of $3.00 and a 12 month high of $92.74.

Insider Activity

In other news, CEO Jan Roger Goetgeluk sold 112,563 shares of the firm’s stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $6.96, for a total value of $783,438.48. Following the completion of the transaction, the chief executive officer directly owned 4,309,689 shares in the company, valued at $29,995,435.44. This trade represents a 2.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold 500,000 shares of company stock valued at $2,593,993 in the last three months.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Zacks Research raised Virtuix to a “hold” rating in a research report on Tuesday, April 14th. Wall Street Zen cut Virtuix from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. Maxim Group initiated coverage on Virtuix in a research note on Thursday, June 18th. They set a “buy” rating and a $11.00 target price on the stock. Finally, Weiss Ratings started coverage on Virtuix in a research report on Monday, April 20th. They set a “sell (e-)” rating on the stock. 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’s stock. According to MarketBeat.com, Virtuix presently has an average rating of “Hold” and an average price target of $11.00.

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.