Glu Mobile Inc. (GLUU) Trading Down 1.3%
Glu Mobile Inc. (NASDAQ:GLUU) shares were down 1.3% on Tuesday . The stock traded as low as $2.22 and last traded at $2.23, with a volume of 1,065,323 shares traded. The stock had previously closed at $2.26.
Several research analysts recently weighed in on GLUU shares. Northland Securities lowered Glu Mobile from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 3rd. Wedbush set a $2.25 price objective on Glu Mobile and gave the stock a “hold” rating in a research report on Wednesday, August 3rd. Roth Capital lowered Glu Mobile from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $4.15 to $2.50 in a research report on Wednesday, May 4th. Canaccord Genuity reiterated a “neutral” rating and issued a $3.00 price objective on shares of Glu Mobile in a research report on Friday, August 5th. Finally, Zacks Investment Research upgraded Glu Mobile from a “sell” rating to a “hold” rating in a research report on Tuesday, August 9th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $3.41.
The stock’s 50 day moving average is $2.36 and its 200 day moving average is $2.66. The company’s market cap is $305.89 million.
Glu Mobile (NASDAQ:GLUU) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.02. During the same quarter in the prior year, the firm earned $0.01 earnings per share. The company had revenue of $48.40 million for the quarter, compared to analyst estimates of $47.25 million. The company’s revenue for the quarter was down 13.9% on a year-over-year basis. On average, equities analysts anticipate that Glu Mobile Inc. will post ($0.15) EPS for the current year.
In other news, Director Ann Mather sold 25,000 shares of the business’s stock in a transaction 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 completion of the sale, the director now directly owns 53,666 shares of the company’s stock, valued at approximately $126,651.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Gregory J. Cannon sold 55,000 shares of the business’s stock in a transaction 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 sale, the vice president now directly owns 83,771 shares of the company’s stock, valued at $209,427.50. 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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