Glu Mobile Inc. (GLUU) Trading 3% Higher
Glu Mobile Inc. (NASDAQ:GLUU) traded up 3% during mid-day trading on Monday . The company traded as high as $2.45 and last traded at $2.41, with a volume of 1,305,083 shares trading hands. The stock had previously closed at $2.34.
A number of equities research analysts recently issued reports on the company. Roth Capital lowered Glu Mobile from a “buy” rating to a “neutral” rating and dropped their target price for the company from $4.15 to $2.50 in a research report on Wednesday, May 4th. Northland Securities lowered Glu Mobile from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Zacks Investment Research lowered Glu Mobile from a “buy” rating to a “hold” rating in a research report on Monday, May 2nd. Wedbush dropped their target price on Glu Mobile from $3.30 to $2.65 and set a “neutral” rating on the stock in a research report on Wednesday, May 4th. Finally, Benchmark Co. lowered Glu Mobile from a “buy” rating to a “hold” rating and dropped their target price for the company from $3.68 to $2.70 in a research report on Wednesday, May 4th. Two analysts have rated the stock with a sell rating, six have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $3.58.
The firm’s market capitalization is $302.99 million. The company has a 50-day moving average of $2.38 and a 200 day moving average of $2.68.
Glu Mobile (NASDAQ:GLUU) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.02. During the same period last year, the company earned $0.01 earnings per share. The company earned $48.40 million during the quarter, compared to analysts’ expectations of $47.25 million. The business’s revenue for the quarter was down 13.9% compared to the same quarter last year. Analysts anticipate that Glu Mobile Inc. will post ($0.14) earnings per share for the current fiscal year.
In related news, Director Ann Mather sold 25,000 shares of the stock in a transaction that occurred on Thursday, June 2nd. The stock was sold at an average price of $2.36, for a total transaction of $59,000.00. Following the completion of the sale, the director now directly owns 53,666 shares of the company’s stock, valued at $126,651.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William J. Miller sold 20,100 shares of the stock in a transaction that occurred on Wednesday, May 18th. The shares were sold at an average price of $2.34, for a total value of $47,034.00. Following the sale, the director now directly owns 95,100 shares of the company’s stock, valued at $222,534. 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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