Glu Mobile Inc. (GLUU) Stock Price Up 4.6%
Glu Mobile Inc. (NASDAQ:GLUU)’s share price rose 4.6% during mid-day trading on Monday . The company traded as high as $2.26 and last traded at $2.26, with a volume of 1,892,205 shares trading hands. The stock had previously closed at $2.16.
GLUU has been the subject of a number of analyst reports. Roth Capital cut their price target on Glu Mobile from $5.25 to $4.15 and set a “buy” rating for the company in a research note on Tuesday, April 26th. Zacks Investment Research downgraded Glu Mobile from a “buy” rating to a “hold” rating in a research note on Monday, May 2nd. 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 note on Wednesday, May 4th. Wedbush set a $2.25 target price on Glu Mobile and gave the stock a “hold” rating in a research note on Wednesday, August 3rd. Finally, Northland Securities downgraded Glu Mobile from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $3.41.
The company’s market cap is $294.06 million. The company has a 50 day moving average price of $2.35 and a 200-day moving average price of $2.67.
Glu Mobile (NASDAQ:GLUU) last released its quarterly earnings results on Tuesday, August 2nd. 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 earned $48.40 million during the quarter, compared to the consensus estimate of $47.25 million. Glu Mobile’s quarterly revenue was down 13.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.01 earnings per share. Equities analysts expect that Glu Mobile Inc. will post ($0.15) earnings per share for the current fiscal year.
In other Glu Mobile news, VP Gregory J. Cannon sold 55,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 14th. The shares were sold at an average price of $2.50, for a total transaction of $137,500.00. Following the completion of the transaction, the vice president now owns 83,771 shares of the company’s stock, valued at $209,427.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ann Mather sold 25,000 shares of the firm’s stock in a transaction that occurred on 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 directly owns 53,666 shares of the company’s stock, valued at approximately $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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