Glu Mobile Inc. (GLUU) Stock Price Down 1.3%
Glu Mobile Inc. (NASDAQ:GLUU) shares fell 1.3% during trading on Tuesday . The stock traded as low as $2.22 and last traded at $2.23, with a volume of 1,065,323 shares. The stock had previously closed at $2.26.
Several brokerages have recently commented on GLUU. Roth Capital reduced their target price 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. Wedbush reduced their target price on Glu Mobile from $3.30 to $2.65 and set a “neutral” rating for the company in a research note on Wednesday, May 4th. Benchmark Co. downgraded Glu Mobile from a “buy” rating to a “hold” rating and reduced their target price for the stock from $3.68 to $2.70 in a research note on Wednesday, May 4th. Finally, Northland Securities downgraded Glu Mobile from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 3rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $3.41.
The company’s market capitalization is $301.90 million. The firm’s 50 day moving average price is $2.36 and its 200-day moving average price is $2.67.
Glu Mobile (NASDAQ:GLUU) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.03) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.02. The business had revenue of $48.40 million for the quarter, compared to analysts’ expectations of $47.25 million. The business’s revenue was down 13.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.01 earnings per share. Analysts anticipate that Glu Mobile Inc. will post ($0.15) earnings per share for the current year.
In other Glu Mobile news, VP Gregory J. Cannon sold 55,000 shares of the firm’s stock in a transaction on Thursday, July 14th. The stock was sold at an average price of $2.50, for a total value of $137,500.00. Following the completion of the sale, the vice president now directly owns 83,771 shares of the company’s stock, valued at $209,427.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ann Mather sold 25,000 shares of the firm’s stock in a transaction on Thursday, June 2nd. The stock was sold at an average price of $2.36, for a total value 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 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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