Virtuix Holdings Inc. (NASDAQ:VTIX) Short Interest Down 39.7% in August

Virtuix Holdings Inc. (NASDAQ:VTIX) was the recipient of a large decrease in short interest during the month of August. As of August 14th, there was short interest totaling 1,038,765 shares, a decrease of 39.7% from the July 30th total of 1,722,801 shares. Based on an average trading volume of 442,927 shares, the days-to-cover ratio is currently 2.3 days. Approximately 4.9% of the company’s stock are sold short.

Insider Activity at Virtuix

In related news, COO David Robert Malcolm Allan sold 35,769 shares of the stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $1.61, for a total transaction of $57,588.09. Following the completion of the transaction, the chief operating officer owned 9,002 shares in the company, valued at approximately $14,493.22. This represents a 79.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 503,985 shares of company stock valued at $836,094 over the last 90 days. Insiders own 28.63% of the company’s stock.

Virtuix Price Performance

Shares of NASDAQ VTIX traded up $0.03 during mid-day trading on Monday, reaching $1.37. The company had a trading volume of 64,574 shares, compared to its average volume of 521,079. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.61 and a current ratio of 0.71. Virtuix has a one year low of $1.16 and a one year high of $92.74. The firm has a market cap of $41.15 million and a price-to-earnings ratio of -1.96. The business’s 50-day simple moving average is $2.27 and its 200 day simple moving average is $4.21.

Virtuix (NASDAQ:VTIX) last announced its quarterly earnings data on Wednesday, August 19th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.03. The firm had revenue of $0.77 million during the quarter. On average, research analysts predict that Virtuix will post -0.67 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently commented on the company. Weiss Ratings raised Virtuix from a “sell (e-)” rating to a “sell (e)” rating in a research report on Wednesday, July 1st. Maxim Group started coverage on shares of Virtuix in a report on Thursday, June 18th. They set a “buy” rating and a $11.00 target price for the company. Finally, Wall Street Zen cut shares of Virtuix from a “sell” rating to a “strong sell” rating in a report on Sunday, August 23rd. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Virtuix presently has an average rating of “Hold” and a consensus target price of $11.00.

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.