Glu Mobile Inc. (GLUU) Shares Up 2.8%
Shares of Glu Mobile Inc. (NASDAQ:GLUU) shot up 2.8% on Friday . The company traded as high as $2.57 and last traded at $2.56, with a volume of 2,445,351 shares. The stock had previously closed at $2.49.
A number of research firms have recently weighed in on GLUU. Roth Capital reiterated a “buy” rating on shares of Glu Mobile in a report on Saturday, March 19th. Zacks Investment Research upgraded shares of Glu Mobile from a “hold” rating to a “buy” rating and set a $3.25 price objective for the company in a report on Tuesday, March 29th. Canaccord Genuity restated a “hold” rating and issued a $4.00 price objective on shares of Glu Mobile in a report on Monday, April 4th. Wedbush lowered their price objective on shares of Glu Mobile from $3.30 to $2.65 and set a “neutral” rating for the company in a report on Wednesday, May 4th. Finally, Benchmark Co. lowered shares of Glu Mobile from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $3.68 to $2.70 in a report on Wednesday, May 4th. Two 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 stock. The stock has an average rating of “Hold” and an average target price of $3.60.
The firm’s 50-day moving average price is $2.33 and its 200 day moving average price is $2.66. The firm’s market capitalization is $338.71 million.
Glu Mobile (NASDAQ:GLUU) last issued its quarterly earnings results on Tuesday, May 3rd. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.02. During the same quarter in the previous year, the company posted $0.02 earnings per share. The firm had revenue of $54 million for the quarter, compared to the consensus estimate of $48.20 million. The business’s revenue for the quarter was down 13.5% on a year-over-year basis. On average, analysts expect that Glu Mobile Inc. will post ($0.14) EPS for the current fiscal year.
In related news, Director William J. Miller sold 20,100 shares of the company’s stock in a transaction dated Wednesday, May 18th. The shares were sold at an average price of $2.34, for a total transaction of $47,034.00. Following the transaction, the director now directly owns 95,100 shares in the company, valued at approximately $222,534. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ann Mather sold 25,000 shares of the company’s stock in a transaction dated Thursday, June 2nd. The shares were sold at an average price of $2.36, for a total transaction of $59,000.00. Following the transaction, the director now owns 53,666 shares in the company, valued at $126,651.76. The disclosure for this sale can be found here.
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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