Insider Selling: Virtuix (NASDAQ:VTIX) Director Sells $10,353.00 in Stock

Virtuix Holdings Inc. (NASDAQ:VTIX) Director Brett Moyer sold 8,700 shares of the stock in a transaction that occurred on Monday, September 28th. The shares were sold at an average price of $1.19, for a total transaction of $10,353.00. Following the sale, the director directly owned 154,958 shares of the company’s stock, valued at $184,400.02. This represents a 5.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Virtuix Trading Up 3.4%

Shares of NASDAQ VTIX traded up $0.04 during midday trading on Monday, reaching $1.21. The stock had a trading volume of 121,943 shares, compared to its average volume of 279,176. Virtuix Holdings Inc. has a twelve month low of $0.92 and a twelve month high of $92.74. The company has a quick ratio of 0.61, a current ratio of 0.71 and a debt-to-equity ratio of 0.80. The company’s 50 day moving average price is $1.48 and its 200 day moving average price is $3.48.

Virtuix (NASDAQ:VTIX) last announced its earnings results on Wednesday, August 19th. The company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.03. The firm had revenue of $0.77 million for the quarter. Analysts forecast that Virtuix Holdings Inc. will post -0.67 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have commented on the stock. Wall Street Zen lowered shares of Virtuix from a “sell” rating to a “strong sell” rating in a research note on Sunday, August 23rd. Maxim Group assumed coverage on Virtuix in a research note on Thursday, June 18th. They issued a “buy” rating and a $11.00 price objective for the company. Finally, Weiss Ratings raised shares of Virtuix from a “sell (e-)” rating to a “sell (e)” rating in a report on Wednesday, July 1st. One investment 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 data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $11.00.

Virtuix Company Profile

Virtuix, Inc is a virtual reality technology company that develops immersive gaming systems and accessories. Its flagship product, Omni One, is a consumer virtual reality platform centered on an omnidirectional treadmill that allows users to walk, run, and move naturally within compatible VR games while remaining in a defined physical space.

The company also offers VR content and software designed to work with its hardware. Virtuix has developed Omni Arena, a commercial location-based virtual reality esports experience intended for venues such as arcades, entertainment centers, and other out-of-home gaming facilities.

Virtuix was founded in 2013 by Jan Goetgeluk, who serves as the company’s chief executive officer.