Virtuix (NASDAQ:VTIX) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Virtuix from “strong sell” to “sell,” while the overall analyst consensus remains “Hold” with an $11.00 target price.
• Virtuix shares opened at $1.77, with a market capitalization of approximately $52.94 million, and were trading 4.1% higher. The stock remains well below its 12-month high of $92.74.
• The company reported a quarterly loss of $0.39 per share, beating estimates by $0.03, on revenue of $1.27 million. Insider selling has totaled 503,985 shares over the past 90 days, including a significant sale by the COO.

Virtuix (NASDAQ:VTIX - Get Free Report) was upgraded by analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a research report issued to clients and investors on Saturday.

Several other research firms have also commented on VTIX. Weiss Ratings upgraded shares of 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 research report on Thursday, June 18th. They issued a "buy" rating and a $11.00 price objective on the stock. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $11.00.

Virtuix Trading Up 4.1%

NASDAQ:VTIX opened at $1.77 on Friday. Virtuix has a 12-month low of $1.42 and a 12-month high of $92.74. The firm has a market capitalization of $52.94 million and a P/E ratio of -3.69. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.36 and a quick ratio of 1.23. The business has a 50 day simple moving average of $2.69 and a 200 day simple moving average of $4.58.

Virtuix (NASDAQ:VTIX - Get Free Report) last issued its earnings results on Thursday, June 25th. The company reported ($0.39) earnings per share for the quarter, topping the consensus estimate of ($0.42) by $0.03. The company had revenue of $1.27 million during the quarter. Equities research analysts predict that Virtuix will post -0.67 EPS for the current year.

Insider Activity

In other news, COO David Robert Malcolm Allan sold 220,821 shares of Virtuix 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 $499,730.41. The trade was a 44.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Over the last 90 days, insiders have sold 503,985 shares of company stock valued at $836,094. Insiders own 28.63% of the company's stock.

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.

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