Virtuix (NASDAQ:VTIX) Director Brett Moyer Sells 8,700 Shares of Stock

Virtuix Holdings Inc. (NASDAQ:VTIX) Director Brett Moyer sold 8,700 shares of the stock in a transaction that occurred on Monday, September 28th. The shares were sold at an average price of $1.19, for a total transaction of $10,353.00. Following the transaction, the director directly owned 154,958 shares of the company’s stock, valued at $184,400.02. This represents a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Virtuix Price Performance

Shares of NASDAQ:VTIX traded up $0.04 during mid-day trading on Monday, reaching $1.21. The company had a trading volume of 121,943 shares, compared to its average volume of 279,176. Virtuix Holdings Inc. has a one year low of $0.92 and a one year high of $92.74. The company has a current ratio of 0.71, a quick ratio of 0.61 and a debt-to-equity ratio of 0.80. The company’s 50-day moving average price is $1.48 and its 200-day moving average price is $3.48.

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on VTIX shares. Wall Street Zen lowered shares of Virtuix from a “sell” rating to a “strong sell” rating in a report on Sunday, August 23rd. Weiss Ratings raised shares of Virtuix from a “sell (e-)” rating to a “sell (e)” rating in a report on Wednesday, July 1st. Finally, Maxim Group initiated coverage on shares of Virtuix in a research note on Thursday, June 18th. They issued a “buy” rating and a $11.00 target price on the stock. One investment 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. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $11.00.

About Virtuix

Virtuix, Inc is a virtual reality technology company that develops immersive gaming systems and accessories. Its flagship product, Omni One, is a consumer virtual reality platform centered on an omnidirectional treadmill that allows users to walk, run, and move naturally within compatible VR games while remaining in a defined physical space.

The company also offers VR content and software designed to work with its hardware. Virtuix has developed Omni Arena, a commercial location-based virtual reality esports experience intended for venues such as arcades, entertainment centers, and other out-of-home gaming facilities.

Virtuix was founded in 2013 by Jan Goetgeluk, who serves as the company’s chief executive officer.