Insider Selling: Virtuix (NASDAQ:VTIX) COO Sells $122,084.04 in Stock

Virtuix Holdings Inc. (NASDAQ:VTIX) COO David Robert Malcolm Allan sold 78,259 shares of the business’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $1.56, for a total transaction of $122,084.04. Following the sale, the chief operating officer directly owned 126,650 shares of the company’s stock, valued at $197,574. This represents a 38.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

David Robert Malcolm Allan also recently made the following trade(s):

• On Wednesday, July 29th, David Robert Malcolm Allan sold 74,270 shares of Virtuix stock. The shares were sold at an average price of $1.60, for a total transaction of $118,832.00.
• On Tuesday, July 28th, David Robert Malcolm Allan sold 220,821 shares of Virtuix stock. The stock was sold at an average price of $1.79, for a total value of $395,269.59.

Virtuix Trading Down 2.5%

NASDAQ:VTIX traded down $0.04 during trading hours on Friday, hitting $1.57. 486,066 shares of the stock were exchanged, compared to its average volume of 504,134. The business’s fifty day simple moving average is $3.07. Virtuix Holdings Inc. has a 52-week low of $1.45 and a 52-week high of $92.74. The firm has a market cap of $45.37 million and a P/E ratio of -3.27.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on VTIX shares. Zacks Research raised shares of Virtuix to a “hold” rating in a research note on Tuesday, April 14th. Maxim Group initiated coverage on shares of Virtuix in a report on Thursday, June 18th. They issued a “buy” rating and a $11.00 price objective for the company. Wall Street Zen cut Virtuix from a “hold” rating to a “sell” rating in a report on Saturday, June 6th. Finally, Weiss Ratings raised Virtuix from a “sell (e-)” rating to a “sell (e)” rating in a report on Wednesday, July 1st. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price 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.