Virtuix (NASDAQ:VTIX) Posts Earnings Results, Beats Estimates By $0.03 EPS

Virtuix (NASDAQ:VTIX) announced its earnings results on Wednesday. The company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.25) by $0.03, FiscalAI reports. The business had revenue of $0.77 million for the quarter.

Virtuix Stock Performance

Shares of Virtuix stock opened at $1.25 on Friday. The business has a 50-day simple moving average of $2.53 and a 200-day simple moving average of $4.41. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.23 and a current ratio of 1.36. Virtuix has a one year low of $1.25 and a one year high of $92.74. The company has a market cap of $37.39 million and a PE ratio of -2.60.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Maxim Group started coverage on shares of Virtuix in a research note on Thursday, June 18th. They issued a “buy” rating and a $11.00 price target for the company. Wall Street Zen raised Virtuix from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 15th. Finally, Weiss Ratings upgraded Virtuix from a “sell (e-)” rating to a “sell (e)” rating in a research note 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 given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $11.00.

Insiders Place Their Bets

In related news, COO David Robert Malcolm Allan sold 35,769 shares of Virtuix stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $1.61, for a total value of $57,588.09. Following the completion of the transaction, the chief operating officer owned 9,002 shares in the company, valued at $14,493.22. The trade was a 79.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 503,985 shares of company stock valued at $836,094 over the last 90 days. 28.63% of the stock is owned by company insiders.

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.