The Glimpse Group (NASDAQ:VRAR) Trading Down 8.5% – Here’s Why

The Glimpse Group, Inc. (NASDAQ:VRAR) traded down 8.5% during trading on Monday . The stock traded as low as $1.02 and last traded at $1.07. 114,836 shares traded hands during mid-day trading, a decline of 28% from the average session volume of 160,039 shares. The stock had previously closed at $1.17.

Analysts Set New Price Targets

VRAR has been the topic of a number of research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of The Glimpse Group in a research report on Monday, December 29th. Wall Street Zen downgraded shares of The Glimpse Group from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. Finally, Westpark Capital reaffirmed a “buy” rating and set a $2.62 price objective on shares of The Glimpse Group in a research report on Thursday, December 18th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $2.62.

The Glimpse Group Trading Down 8.5%

The stock has a market cap of $22.56 million, a P/E ratio of -8.92 and a beta of 1.21. The company’s fifty day simple moving average is $1.03 and its 200-day simple moving average is $1.33.

The Glimpse Group (NASDAQ:VRAR) last issued its earnings results on Thursday, November 13th. The company reported ($0.06) earnings per share for the quarter, meeting the consensus estimate of ($0.06). The business had revenue of $1.40 million for the quarter, compared to analyst estimates of $1.50 million. The Glimpse Group had a negative net margin of 27.10% and a negative return on equity of 16.60%.

Institutional Investors Weigh In On The Glimpse Group

Large investors have recently modified their holdings of the stock. Virtu Financial LLC acquired a new stake in The Glimpse Group in the 3rd quarter valued at $36,000. GSA Capital Partners LLP boosted its stake in shares of The Glimpse Group by 78.4% in the 3rd quarter. GSA Capital Partners LLP now owns 26,683 shares of the company’s stock valued at $44,000 after purchasing an additional 11,727 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of The Glimpse Group in the 2nd quarter worth about $46,000. DNB Asset Management AS acquired a new stake in shares of The Glimpse Group during the 3rd quarter worth about $105,000. Finally, Susquehanna International Group LLP lifted its holdings in The Glimpse Group by 250.4% during the 3rd quarter. Susquehanna International Group LLP now owns 78,786 shares of the company’s stock valued at $129,000 after purchasing an additional 56,303 shares during the last quarter. 21.41% of the stock is currently owned by institutional investors.

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.