The Glimpse Group (NASDAQ:VRAR) Releases Quarterly Earnings Results

The Glimpse Group (NASDAQ:VRAR) posted its earnings results on Tuesday. The company reported ($0.06) earnings per share (EPS) for the quarter, FiscalAI reports. The company had revenue of $1.30 million for the quarter. The Glimpse Group had a negative return on equity of 16.60% and a negative net margin of 27.10%.

The Glimpse Group Trading Down 14.5%

Shares of VRAR opened at $0.66 on Wednesday. The Glimpse Group has a 12 month low of $0.63 and a 12 month high of $1.85. The firm’s 50 day moving average is $0.95 and its 200-day moving average is $1.25. The stock has a market capitalization of $13.91 million, a PE ratio of -5.50 and a beta of 1.21.

Institutional Trading of The Glimpse Group

A number of institutional investors have recently modified their holdings of VRAR. DNB Asset Management AS bought a new stake in shares of The Glimpse Group during the 3rd quarter worth approximately $105,000. Nano Cap New Millennium Growth Fund L P acquired a new position in The Glimpse Group during the fourth quarter valued at approximately $56,000. Susquehanna International Group LLP lifted its stake in The Glimpse Group by 250.4% during the third quarter. Susquehanna International Group LLP now owns 78,786 shares of the company’s stock worth $129,000 after purchasing an additional 56,303 shares during the last quarter. XTX Topco Ltd bought a new stake in The Glimpse Group during the second quarter worth $46,000. Finally, Virtu Financial LLC acquired a new stake in shares of The Glimpse Group in the 3rd quarter valued at $36,000. 21.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

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.