Wall Street Zen Upgrades Virtuix (NASDAQ:VTIX) to Sell

Virtuix (NASDAQ:VTIX) was upgraded by investment analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research note issued to investors on Saturday.

Several other brokerages have also recently commented on VTIX. Weiss Ratings raised 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 research note on Thursday, June 18th. They issued a “buy” rating and a $11.00 price objective for the company. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $11.00.

Virtuix Price Performance

Shares of NASDAQ:VTIX opened at $1.77 on Friday. The company has a market capitalization of $52.94 million and a PE ratio of -3.69. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.23 and a current ratio of 1.36. The stock has a fifty day moving average of $2.69 and a 200-day moving average of $4.58. Virtuix has a one year low of $1.42 and a one year high of $92.74.

Virtuix (NASDAQ:VTIX) last issued its earnings results on Thursday, June 25th. The company reported ($0.39) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.03. The company had revenue of $1.27 million during the quarter. As a group, equities analysts anticipate that Virtuix will post -0.67 EPS for the current fiscal year.

Insider Activity

In other news, COO David Robert Malcolm Allan sold 35,769 shares of the business’s 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 transaction, the chief operating officer directly owned 9,002 shares in the company, valued at $14,493.22. The trade was a 79.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Over the last three months, insiders have sold 503,985 shares of company stock worth $836,094. Company insiders own 28.63% of the company’s stock.

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.