The Glimpse Group (NASDAQ:VRAR) Stock Price Down 7.8% – Here’s Why

Shares of The Glimpse Group, Inc. (NASDAQ:VRAR) traded down 7.8% on Monday . The stock traded as low as $0.9362 and last traded at $0.9401. 172,427 shares were traded during trading, an increase of 87% from the average session volume of 92,424 shares. The stock had previously closed at $1.02.

Analysts Set New Price Targets

A number of research firms have commented on VRAR. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of The Glimpse Group in a research report on Monday, December 8th. 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 investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $2.62.

The Glimpse Group Stock Down 7.8%

The firm has a market cap of $19.82 million, a PE ratio of -7.83 and a beta of 1.19. The business has a 50 day simple moving average of $1.33 and a two-hundred day simple moving average of $1.42.

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, hitting the consensus estimate of ($0.06). The Glimpse Group had a negative return on equity of 16.60% and a negative net margin of 27.10%.The business had revenue of $1.40 million during the quarter, compared to analysts’ expectations of $1.50 million.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. XTX Topco Ltd acquired a new stake in shares of The Glimpse Group in the second quarter worth $46,000. GSA Capital Partners LLP boosted its holdings in The Glimpse Group by 78.4% during the third 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 in the last quarter. DNB Asset Management AS acquired a new stake in The Glimpse Group during the third quarter valued at $105,000. Virtu Financial LLC purchased a new position in The Glimpse Group in the third quarter valued at $36,000. Finally, Susquehanna International Group LLP raised its position in shares of The Glimpse Group by 250.4% in the third quarter. Susquehanna International Group LLP now owns 78,786 shares of the company’s stock worth $129,000 after acquiring an additional 56,303 shares during the period. 21.41% of the stock is currently owned by hedge funds and other institutional investors.

The Glimpse Group Company Profile

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.