Wall Street Zen Downgrades Virtuix (NASDAQ:VTIX) to Strong Sell

Virtuix (NASDAQ:VTIX) was downgraded by equities researchers at Wall Street Zen from a “sell” rating to a “strong sell” rating in a research note issued on Saturday.

Other analysts also recently issued research reports about the stock. Weiss Ratings raised shares of Virtuix from a “sell (e-)” rating to a “sell (e)” rating in a report on Wednesday, July 1st. Maxim Group assumed coverage on shares of Virtuix in a report on Thursday, June 18th. They issued a “buy” rating and a $11.00 price target on the stock. Finally, Zacks Research upgraded shares of Virtuix to a “hold” rating in a research report on Tuesday, April 14th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Virtuix presently has a consensus rating of “Hold” and an average price target of $11.00.

Virtuix Price Performance

Shares of Virtuix stock opened at $1.57 on Friday. The firm’s fifty day simple moving average is $3.07. Virtuix has a 1 year low of $1.45 and a 1 year 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 released its quarterly earnings data on Thursday, June 25th. The company reported ($0.39) EPS for the quarter, beating the consensus estimate of ($0.42) by $0.03. The company had revenue of $1.27 million during the quarter.

Insider Buying and Selling at Virtuix

In other news, COO David Robert Malcolm Allan sold 220,821 shares of the business’s stock in a transaction dated 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 owned 279,179 shares of the company’s stock, valued at approximately $499,730.41. The trade was a 44.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jan Roger Goetgeluk sold 77,432 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $4.04, for a total transaction of $312,825.28. Following the completion of the transaction, the chief executive officer owned 4,020,279 shares in the company, valued at $16,241,927.16. This trade represents a 1.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 475,046 shares of company stock worth $1,028,265 in the last quarter.

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.