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

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Weiss Ratings restated a “sell (d-)” rating on shares of The Glimpse Group in a research report on Monday, December 29th. Wall Street Zen cut The Glimpse Group from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. Finally, Westpark Capital restated a “buy” rating and issued a $2.62 target price on shares of The Glimpse Group in a research note 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. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $2.62.

The Glimpse Group Trading Down 8.5%

The firm has a fifty day simple moving average of $1.03 and a 200-day simple moving average of $1.33. The stock has a market cap of $22.56 million, a price-to-earnings ratio of -8.92 and a beta of 1.21.

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. GSA Capital Partners LLP grew 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 worth $44,000 after buying an additional 11,727 shares during the period. Virtu Financial LLC acquired a new stake in The Glimpse Group during the 3rd quarter worth $36,000. XTX Topco Ltd bought a new stake in shares of The Glimpse Group during the 2nd quarter valued at $46,000. Susquehanna International Group LLP raised its position in shares of 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 acquiring an additional 56,303 shares during the last quarter. Finally, DNB Asset Management AS acquired a new position in shares of The Glimpse Group in the 3rd quarter valued at $105,000. Institutional investors own 21.41% of the company’s stock.

About The Glimpse Group

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.