The Glimpse Group (NASDAQ:VRAR) Shares Down 2.7% – Time to Sell?

The Glimpse Group, Inc. (NASDAQ:VRAR) shares dropped 2.7% during trading on Monday . The company traded as low as $0.5902 and last traded at $0.6242. Approximately 8,601 shares traded hands during trading, a decline of 92% from the average daily volume of 107,255 shares. The stock had previously closed at $0.6413.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Westpark Capital reaffirmed a “buy” rating and set a $2.62 price target on shares of The Glimpse Group in a research note on Thursday, December 18th. Weiss Ratings restated a “sell (d-)” rating on shares of The Glimpse Group in a report on Monday, December 29th. Finally, Wall Street Zen downgraded shares of The Glimpse Group from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $2.62.

The Glimpse Group Stock Down 2.7%

The firm has a market cap of $13.16 million, a price-to-earnings ratio of -3.47 and a beta of 1.21. The business has a 50 day moving average of $0.86 and a 200 day moving average of $1.18.

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Virtu Financial LLC purchased a new stake in shares of The Glimpse Group in the third quarter valued at $36,000. GSA Capital Partners LLP boosted its stake in The Glimpse Group by 78.4% in the 3rd quarter. GSA Capital Partners LLP now owns 26,683 shares of the company’s stock worth $44,000 after buying an additional 11,727 shares during the last quarter. XTX Topco Ltd purchased a new stake in The Glimpse Group in the 2nd quarter valued at about $46,000. Nano Cap New Millennium Growth Fund L P acquired a new position in shares of The Glimpse Group during the 4th quarter valued at about $56,000. Finally, DNB Asset Management AS purchased a new position in shares of The Glimpse Group during the 3rd quarter worth about $105,000. Hedge funds and other institutional investors own 21.41% of the company’s stock.

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.