David Robert Malcolm Allan Sells 74,270 Shares of Virtuix (NASDAQ:VTIX) Stock

Virtuix Holdings Inc. (NASDAQ:VTIX) COO David Robert Malcolm Allan sold 74,270 shares of the company’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $1.60, for a total transaction of $118,832.00. Following the transaction, the chief operating officer owned 204,909 shares of the company’s stock, valued at approximately $327,854.40. This represents a 26.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

David Robert Malcolm Allan also recently made the following trade(s):

• On Thursday, July 30th, David Robert Malcolm Allan sold 78,259 shares of Virtuix stock. The shares were sold at an average price of $1.56, for a total value of $122,084.04.
• On Tuesday, July 28th, David Robert Malcolm Allan sold 220,821 shares of Virtuix stock. The shares were sold at an average price of $1.79, for a total value of $395,269.59.

Virtuix Trading Down 2.5%

NASDAQ:VTIX opened at $1.57 on Friday. Virtuix Holdings Inc. has a one year low of $1.45 and a one year high of $92.74. The firm has a market cap of $45.37 million and a P/E ratio of -3.27. The stock’s 50 day simple moving average is $3.07.

Virtuix (NASDAQ:VTIX) last posted its quarterly earnings data 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.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on VTIX. Weiss Ratings upgraded Virtuix from a “sell (e-)” rating to a “sell (e)” rating in a report on Wednesday, July 1st. Zacks Research upgraded shares of Virtuix to a “hold” rating in a report on Tuesday, April 14th. Maxim Group started coverage on Virtuix in a research note on Thursday, June 18th. They set a “buy” rating and a $11.00 price objective on the stock. Finally, Wall Street Zen cut shares of Virtuix from a “sell” rating to a “strong sell” rating in a research report on Saturday. One 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average 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.