The Glimpse Group (NASDAQ:VRAR) Trading Down 8.7% – Time to Sell?

The Glimpse Group, Inc. (NASDAQ:VRAR)’s share price dropped 8.7% during trading on Tuesday . The stock traded as low as $0.42 and last traded at $0.4859. Approximately 132,710 shares traded hands 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.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on VRAR. Weiss Ratings restated a “sell (d-)” rating on shares of The Glimpse Group in a report on Monday, December 29th. Westpark Capital reissued a “buy” rating and issued a $2.62 price target on shares of The Glimpse Group in a research report on Thursday, December 18th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $2.62.

The Glimpse Group Price Performance

The firm’s fifty day moving average is $0.72 and its two-hundred day moving average is $1.08. The firm has a market capitalization of $10.24 million, a PE ratio of -2.70 and a beta of 1.21.

The Glimpse Group (NASDAQ:VRAR) last posted its quarterly earnings data on Tuesday, February 17th. The company reported ($0.06) EPS 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 Trading of The Glimpse Group

Hedge funds have recently bought and sold shares of the business. Virtu Financial LLC purchased a new position in The Glimpse Group in the third quarter worth $36,000. GSA Capital Partners LLP increased its position in shares of The Glimpse Group by 78.4% during 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 during the last quarter. XTX Topco Ltd purchased a new stake in shares of The Glimpse Group during the 2nd quarter valued at $46,000. Nano Cap New Millennium Growth Fund L P bought a new stake in shares of The Glimpse Group during the 4th quarter worth $56,000. Finally, DNB Asset Management AS purchased a new position in shares of The Glimpse Group in the 3rd quarter worth about $105,000. 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.