The Glimpse Group (NASDAQ:VRAR) Shares Down 10.5% – Time to Sell?

The Glimpse Group, Inc. (NASDAQ:VRAR)’s stock price fell 10.5% during mid-day trading on Tuesday . The stock traded as low as $1.49 and last traded at $1.50. 13,465,446 shares traded hands during trading, an increase of 1,412% from the average session volume of 890,380 shares. The stock had previously closed at $1.67.

Wall Street Analyst Weigh In

Separately, Westpark Capital reissued a “buy” rating and issued a $2.62 price objective on shares of The Glimpse Group in a research note on Tuesday, June 24th.

The Glimpse Group Stock Performance

The company’s 50-day simple moving average is $1.41 and its 200 day simple moving average is $1.48. The company has a market cap of $31.48 million, a PE ratio of -4.04 and a beta of 1.16.

The Glimpse Group (NASDAQ:VRAR) last issued its earnings results on Thursday, May 15th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.05). The firm had revenue of $1.42 million during the quarter, compared to analysts’ expectations of $1.50 million. The Glimpse Group had a negative net margin of 74.05% and a negative return on equity of 45.44%.

Institutional Investors Weigh In On The Glimpse Group

Several large investors have recently made changes to their positions in the business. Jane Street Group LLC bought a new stake in The Glimpse Group in the 4th quarter valued at about $339,000. Geode Capital Management LLC lifted its stake in The Glimpse Group by 22.2% in the fourth quarter. Geode Capital Management LLC now owns 156,896 shares of the company’s stock valued at $388,000 after acquiring an additional 28,555 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of The Glimpse Group in the fourth quarter worth $144,000. Institutional investors and hedge funds own 21.41% of the company’s stock.

About The Glimpse Group

The Glimpse Group, Inc, a virtual reality (VR) and augmented reality (AR) platform company, provides enterprise-focused software, services, and solutions in the United States. It offers QReal, a software that creates and distributes photorealistic 3D interactive digital models and experiences in AR; Immersive Health Group, a VR/AR platform for evidence-based and outcome driven healthcare solutions; and Foretell Reality, a social VR platform for behavioral health, support groups, collaboration, and soft skills training.