Virtuix (NASDAQ:VTIX) Announces Quarterly Earnings Results

Virtuix (NASDAQ:VTIX) announced its quarterly earnings results on Wednesday. The company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.03, FiscalAI reports. The company had revenue of $0.77 million for the quarter.

Virtuix Trading Up 1.9%

Virtuix stock opened at $1.62 on Thursday. Virtuix has a 52-week low of $1.42 and a 52-week high of $92.74. The company has a market cap of $48.45 million and a P/E ratio of -3.38. The company has a quick ratio of 1.23, a current ratio of 1.36 and a debt-to-equity ratio of 0.80. The business has a 50-day simple moving average of $2.58 and a two-hundred day simple moving average of $4.45.

Insider Buying and Selling at Virtuix

In related news, COO David Robert Malcolm Allan sold 220,821 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $1.79, for a total value of $395,269.59. Following the transaction, the chief operating officer owned 279,179 shares of the company’s stock, valued at approximately $499,730.41. This trade represents a 44.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In the last quarter, insiders have sold 503,985 shares of company stock valued at $836,094. 28.63% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Maxim Group initiated coverage on shares of Virtuix in a report on Thursday, June 18th. They set a “buy” rating and a $11.00 price objective for the company. Wall Street Zen raised shares of Virtuix from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 15th. Finally, Weiss Ratings upgraded shares of 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $11.00.

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.