The Glimpse Group (NASDAQ:VRAR) Shares Down 10.5% – Time to Sell?

The Glimpse Group, Inc. (NASDAQ:VRAR) shares dropped 10.5% during mid-day trading on Tuesday . The stock traded as low as $1.49 and last traded at $1.50. Approximately 13,465,446 shares changed hands during mid-day trading, an increase of 1,412% from the average daily volume of 890,380 shares. The stock had previously closed at $1.67.

Wall Street Analysts Forecast Growth

Separately, Westpark Capital reiterated a “buy” rating and issued a $2.62 target price on shares of The Glimpse Group in a research note on Tuesday, June 24th.

The Glimpse Group Price Performance

The company has a market capitalization of $31.48 million, a price-to-earnings ratio of -4.04 and a beta of 1.16. The stock has a fifty day simple moving average of $1.41 and a 200-day simple moving average of $1.48.

The Glimpse Group (NASDAQ:VRAR) last issued its quarterly earnings results on Thursday, May 15th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.05). The firm had revenue of $1.42 million for the quarter, compared to analysts’ expectations of $1.50 million. The Glimpse Group had a negative return on equity of 45.44% and a negative net margin of 74.05%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Jane Street Group LLC acquired a new position in The Glimpse Group in the fourth quarter valued at $339,000. Virtu Financial LLC acquired a new position in The Glimpse Group in the fourth quarter valued at $144,000. Finally, Geode Capital Management LLC increased its stake in The Glimpse Group by 22.2% in the fourth quarter. Geode Capital Management LLC now owns 156,896 shares of the company’s stock valued at $388,000 after purchasing an additional 28,555 shares during the last quarter. 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.