Virtuix (NASDAQ:VTIX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Virtuix (NASDAQ:VTIX) from a strong sell rating to a sell rating in a report released on Saturday.

Several other research firms have also recently commented on VTIX. Weiss Ratings raised shares of Virtuix from a “sell (e-)” rating to a “sell (e)” rating in a research report on Wednesday, July 1st. Maxim Group assumed coverage on Virtuix in a report on Thursday, June 18th. They issued a “buy” rating and a $11.00 price target on the stock. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $11.00.

Virtuix Trading Down 4.5%

NASDAQ:VTIX opened at $1.69 on Friday. Virtuix has a fifty-two week low of $1.42 and a fifty-two week high of $92.74. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.36 and a quick ratio of 1.23. The stock has a market capitalization of $50.55 million and a PE ratio of -3.52. The business’s 50-day simple moving average is $2.65 and its 200-day simple moving average is $4.56.

Virtuix (NASDAQ:VTIX) last announced its quarterly earnings results on Thursday, June 25th. The company reported ($0.39) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.03. The company had revenue of $1.27 million during the quarter. Sell-side analysts expect that Virtuix will post -0.67 earnings per share for the current fiscal year.

Insider Buying and Selling at Virtuix

In other news, COO David Robert Malcolm Allan sold 220,821 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $1.79, for a total transaction of $395,269.59. Following the sale, the chief operating officer owned 279,179 shares in the company, valued at $499,730.41. This represents a 44.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Over the last quarter, insiders sold 503,985 shares of company stock worth $836,094. 28.63% of the stock is owned by insiders.

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.