Maxim Group Begins Coverage on Virtuix (NASDAQ:VTIX)

Equities research analysts at Maxim Group began coverage on shares of Virtuix (NASDAQ:VTIX) in a note issued to investors on Thursday. The firm set a “buy” rating and a $11.00 price target on the stock. Maxim Group’s target price suggests a potential upside of 216.09% from the company’s current price.

Several other analysts also recently commented on VTIX. Zacks Research raised shares of Virtuix to a “hold” rating in a research report on Tuesday, April 14th. Wall Street Zen lowered shares of Virtuix from a “hold” rating to a “sell” rating in a research note on Saturday, June 6th. Finally, Weiss Ratings began coverage on shares of Virtuix in a report on Monday, April 20th. They issued a “sell (e-)” rating for the company. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Virtuix presently has a consensus rating of “Hold” and a consensus price target of $11.00.

Virtuix Stock Performance

NASDAQ:VTIX opened at $3.48 on Thursday. The stock has a 50 day moving average price of $4.28. Virtuix has a 52 week low of $3.00 and a 52 week high of $92.74.

Insider Transactions at Virtuix

In other Virtuix news, CEO Jan Roger Goetgeluk sold 20,279 shares of the stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $3.58, for a total transaction of $72,598.82. Following the transaction, the chief executive officer owned 4,000,000 shares in the company, valued at $14,320,000. This trade represents a 0.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold a total of 500,000 shares of company stock worth $2,593,993 over the last three months.

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.