Wall Street Zen Downgrades Virtuix (NASDAQ:VTIX) to Strong Sell

Virtuix (NASDAQ:VTIX) was downgraded by Wall Street Zen from a “sell” rating to a “strong sell” rating in a note issued to investors on Sunday.

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

Virtuix Stock Down 3.8%

NASDAQ VTIX opened at $1.25 on Friday. The stock’s 50 day simple moving average is $2.45 and its 200 day simple moving average is $4.35. Virtuix has a one year low of $1.16 and a one year high of $92.74. The firm has a market cap of $37.46 million and a PE ratio of -2.60. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.71 and a quick ratio of 0.61.

Virtuix (NASDAQ:VTIX) last announced its earnings results on Wednesday, August 19th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.03. The company had revenue of $0.77 million for the quarter. As a group, sell-side analysts forecast that Virtuix will post -0.67 earnings per share for the current fiscal year.

Insider Activity at Virtuix

In other news, COO David Robert Malcolm Allan sold 220,821 shares of the business’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $1.79, for a total transaction of $395,269.59. Following the transaction, the chief operating officer directly owned 279,179 shares in the company, valued at $499,730.41. The trade was a 44.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders have sold 503,985 shares of company stock valued at $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.