The Glimpse Group, Inc. (NASDAQ:VRAR) Sees Large Decline in Short Interest

The Glimpse Group, Inc. (NASDAQ:VRAR) was the recipient of a large drop in short interest in the month of January. As of January 15th, there was short interest totalling 517,300 shares, a drop of 42.2% from the December 31st total of 894,300 shares. Based on an average trading volume of 2,750,000 shares, the days-to-cover ratio is presently 0.2 days. Currently, 4.0% of the shares of the stock are sold short.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in The Glimpse Group stock. Bleakley Financial Group LLC bought a new stake in The Glimpse Group, Inc. (NASDAQ:VRAR) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 50,479 shares of the company’s stock, valued at approximately $125,000. Bleakley Financial Group LLC owned about 0.28% of The Glimpse Group at the end of the most recent reporting period. 21.41% of the stock is owned by hedge funds and other institutional investors.

The Glimpse Group Price Performance

The Glimpse Group stock traded up $0.02 during trading on Thursday, reaching $1.71. 187,897 shares of the company were exchanged, compared to its average volume of 706,725. The stock’s 50 day simple moving average is $1.88 and its two-hundred day simple moving average is $1.17. The Glimpse Group has a 52-week low of $0.50 and a 52-week high of $7.00. The company has a market capitalization of $31.07 million, a P/E ratio of -3.98 and a beta of 1.07.

Wall Street Analyst Weigh In

Separately, Westpark Capital reissued a “buy” rating and issued a $4.67 price objective on shares of The Glimpse Group in a research note on Tuesday, December 24th.

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.