Virtuix (NASDAQ:VTIX) Posts Earnings Results, Beats Expectations By $0.03 EPS

Virtuix (NASDAQ:VTIX) issued its earnings results on Thursday. The company reported ($0.39) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.42) by $0.03, Zacks reports.

Virtuix Trading Down 6.6%

VTIX opened at $3.13 on Thursday. Virtuix has a twelve month low of $3.00 and a twelve month high of $92.74. The stock’s 50-day simple moving average is $3.99.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Maxim Group began coverage on shares of Virtuix in a report on Thursday, June 18th. They issued a “buy” rating and a $11.00 price target on the stock. Zacks Research upgraded Virtuix to a “hold” rating in a research note on Tuesday, April 14th. Weiss Ratings started coverage on Virtuix in a report on Monday, April 20th. They set a “sell (e-)” rating on the stock. Finally, Wall Street Zen downgraded Virtuix from a “hold” rating to a “sell” rating in a report on Saturday, June 6th. One research 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 stock currently has an average rating of “Hold” and a consensus price target of $11.00.

Insider Activity

In other Virtuix news, CEO Jan Roger Goetgeluk sold 20,279 shares of the company’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $3.58, for a total value of $72,598.82. Following the completion of the sale, the chief executive officer directly owned 4,000,000 shares in the company, valued at $14,320,000. This represents a 0.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 500,000 shares of company stock valued at $2,593,993 in the last ninety days.

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.