Virtuix Holdings Inc. (NASDAQ:VTIX) Short Interest Down 39.7% in August

Virtuix Holdings Inc. (NASDAQ:VTIX) was the recipient of a large decline in short interest in the month of August. As of August 14th, there was short interest totaling 1,038,765 shares, a decline of 39.7% from the July 30th total of 1,722,801 shares. Currently, 4.9% of the company’s shares are sold short. Based on an average daily volume of 442,927 shares, the short-interest ratio is currently 2.3 days.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on VTIX. Weiss Ratings upgraded Virtuix from a “sell (e-)” rating to a “sell (e)” rating in a report on Wednesday, July 1st. Wall Street Zen downgraded Virtuix from a “sell” rating to a “strong sell” rating in a research note on Sunday, August 23rd. Finally, Maxim Group began coverage on shares of Virtuix in a research report on Thursday, June 18th. They set a “buy” rating and a $11.00 price target for the company. 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.com, the company currently has an average rating of “Hold” and an average price target of $11.00.

Insiders Place Their Bets

In related news, COO David Robert Malcolm Allan sold 35,769 shares of the company’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $1.61, for a total transaction of $57,588.09. Following the sale, the chief operating officer owned 9,002 shares in the company, valued at $14,493.22. This represents a 79.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders sold 503,985 shares of company stock worth $836,094. Company insiders own 28.63% of the company’s stock.

Virtuix Price Performance

Shares of VTIX stock traded up $0.03 during trading on Monday, hitting $1.37. The company had a trading volume of 64,574 shares, compared to its average volume of 521,079. The stock’s 50-day moving average is $2.27 and its two-hundred day moving average is $4.21. The stock has a market capitalization of $41.15 million and a price-to-earnings ratio of -1.96. The company has a quick ratio of 0.61, a current ratio of 0.71 and a debt-to-equity ratio of 0.80. Virtuix has a 52 week low of $1.16 and a 52 week high of $92.74.

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

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.