David Robert Malcolm Allan Sells 220,821 Shares of Virtuix (NASDAQ:VTIX) Stock

Virtuix Holdings Inc. (NASDAQ:VTIX) COO David Robert Malcolm Allan sold 220,821 shares of the company’s 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 sale, the chief operating officer directly owned 279,179 shares of the company’s stock, valued at approximately $499,730.41. This represents a 44.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

David Robert Malcolm Allan also recently made the following trade(s):

• On Thursday, July 30th, David Robert Malcolm Allan sold 78,259 shares of Virtuix stock. The stock was sold at an average price of $1.56, for a total value of $122,084.04.
• On Wednesday, July 29th, David Robert Malcolm Allan sold 74,270 shares of Virtuix stock. The shares were sold at an average price of $1.60, for a total value of $118,832.00.

Virtuix Stock Performance

NASDAQ:VTIX opened at $1.57 on Friday. Virtuix Holdings Inc. has a 12-month low of $1.45 and a 12-month high of $92.74. The company has a 50 day moving average of $3.07. The firm has a market capitalization of $45.37 million and a price-to-earnings ratio of -3.27.

Virtuix (NASDAQ:VTIX) last issued its quarterly 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 for the quarter.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on VTIX shares. Wall Street Zen cut shares of Virtuix from a “sell” rating to a “strong sell” rating in a research note on Saturday. Weiss Ratings upgraded shares of Virtuix from a “sell (e-)” rating to a “sell (e)” rating in a research note on Wednesday, July 1st. Zacks Research raised shares of Virtuix to a “hold” rating in a report on Tuesday, April 14th. Finally, 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 for the company. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $11.00.

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.