The Glimpse Group (NASDAQ:VRAR) Shares Down 8.7% – Here’s Why

Shares of The Glimpse Group, Inc. (NASDAQ:VRAR) were down 8.7% during trading on Tuesday . The company traded as low as $0.42 and last traded at $0.4859. Approximately 132,710 shares were traded during mid-day trading, an increase of 24% from the average daily volume of 107,255 shares. The stock had previously closed at $0.5323.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Westpark Capital reissued a “buy” rating and issued a $2.62 price objective on shares of The Glimpse Group in a report on Thursday, December 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of The Glimpse Group in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $2.62.

The Glimpse Group Price Performance

The business’s 50-day simple moving average is $0.71 and its two-hundred day simple moving average is $1.08. The stock has a market cap of $11.79 million, a price-to-earnings ratio of -3.11 and a beta of 1.21.

The Glimpse Group (NASDAQ:VRAR) last announced its quarterly earnings results on Tuesday, February 17th. The company reported ($0.06) earnings per share (EPS) for the quarter. The Glimpse Group had a negative return on equity of 24.98% and a negative net margin of 50.18%.The company had revenue of $1.30 million for the quarter.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Virtu Financial LLC acquired a new position in The Glimpse Group during the third quarter worth $36,000. GSA Capital Partners LLP grew its holdings in shares of The Glimpse Group by 78.4% during the third quarter. GSA Capital Partners LLP now owns 26,683 shares of the company’s stock valued at $44,000 after buying an additional 11,727 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of The Glimpse Group during the second quarter worth about $46,000. Nano Cap New Millennium Growth Fund L P bought a new stake in shares of The Glimpse Group during the fourth quarter worth about $56,000. Finally, DNB Asset Management AS acquired a new stake in shares of The Glimpse Group in the 3rd quarter worth about $105,000. 21.41% of the stock is owned by institutional investors and hedge funds.

The Glimpse Group Company Profile

The Glimpse Group, Inc (NASDAQ: VRAR) is a publicly traded holding company focused on the development and deployment of augmented reality (AR) and virtual reality (VR) software and services. Headquartered in New York City, the company operates through a network of wholly owned subsidiaries that specialize in immersive content creation, proprietary platform development, and enterprise-grade XR (extended reality) solutions. Glimpse Group’s core mission is to accelerate adoption of digital reality technologies across business, education, healthcare, entertainment, and marketing sectors.

Through its portfolio companies, the Glimpse Group delivers end-to-end services that span strategy, design, development and deployment of AR/VR applications.