Glu Mobile Inc. (NASDAQ:GLUU)’s share price was down 1.8% during trading on Wednesday . The stock traded as low as $2.19 and last traded at $2.24, with a volume of 1,552,238 shares traded. The stock had previously closed at $2.28.

Several equities analysts recently commented on GLUU shares. Zacks Investment Research upgraded Glu Mobile from a “hold” rating to a “buy” rating and set a $3.25 target price for the company in a research report on Tuesday, March 29th. Canaccord Genuity restated a “hold” rating and set a $4.00 target price on shares of Glu Mobile in a research report on Monday, April 4th. Roth Capital downgraded Glu Mobile from a “buy” rating to a “neutral” rating and cut their target price for the stock from $4.15 to $2.50 in a research report on Wednesday, May 4th. Wedbush cut their target price on Glu Mobile from $3.30 to $2.65 and set a “neutral” rating for the company in a research report on Wednesday, May 4th. Finally, Benchmark Co. downgraded Glu Mobile from a “buy” rating to a “hold” rating and cut their target price for the stock from $3.68 to $2.70 in a research report on Wednesday, May 4th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Glu Mobile currently has an average rating of “Hold” and a consensus price target of $3.60.

The stock’s market capitalization is $296.37 million. The firm has a 50 day moving average price of $2.33 and a 200-day moving average price of $2.66.

Glu Mobile (NASDAQ:GLUU) last issued its quarterly earnings results on Tuesday, May 3rd. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.02. The company had revenue of $54 million for the quarter, compared to analyst estimates of $48.20 million. During the same period in the prior year, the company earned $0.02 EPS. The company’s quarterly revenue was down 13.5% compared to the same quarter last year. Analysts forecast that Glu Mobile Inc. will post ($0.14) EPS for the current year.

In other Glu Mobile news, VP Gregory J. Cannon sold 45,000 shares of the firm’s stock in a transaction on Wednesday, April 13th. The stock was sold at an average price of $3.00, for a total value of $135,000.00. Following the sale, the vice president now owns 128,770 shares of the company’s stock, valued at approximately $386,310. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ann Mather sold 20,100 shares of the firm’s stock in a transaction on Thursday, May 19th. The shares were sold at an average price of $2.48, for a total value of $49,848.00. Following the completion of the sale, the director now directly owns 48,766 shares in the company, valued at approximately $120,939.68. The disclosure for this sale can be found here.

An institutional investor recently bought a new position in Glu Mobile stock. Alambic Investment Management L.P. bought a new position in shares of Glu Mobile Inc. (NASDAQ:GLUU) during the fourth quarter, Holdings Channel reports. The institutional investor bought 494,100 shares of the company’s stock, valued at approximately $1,201,000. Glu Mobile makes up about 0.7% of Alambic Investment Management L.P.’s investment portfolio, making the stock its 18th largest position. Alambic Investment Management L.P. owned approximately 0.38% of Glu Mobile as of its most recent filing with the SEC.

Glu Mobile Inc develops, publishes and markets a portfolio of games. The Company offers games to a cross section of users of smartphones and tablet devices who download and make purchases within its games through direct-to-consumer digital storefronts, such as the Apple App Store, Google Play Store and Amazon Appstore, among others.

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