Glu Mobile Inc. (GLUU) Trading Up 2.8%
Shares of Glu Mobile Inc. (NASDAQ:GLUU) were 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 trading hands. The stock had previously closed at $2.49.
A number of analysts have recently weighed in on GLUU shares. Zacks Investment Research raised Glu Mobile from a “hold” rating to a “buy” rating and set a $3.25 price objective for the company in a research note on Tuesday, March 29th. Roth Capital reissued a “buy” rating on shares of Glu Mobile in a research note on Saturday, March 19th. Canaccord Genuity reissued a “hold” rating and set a $4.00 price objective on shares of Glu Mobile in a research note on Monday, April 4th. Benchmark Co. lowered Glu Mobile from a “buy” rating to a “hold” rating and dropped their price objective for the company from $3.68 to $2.70 in a research note on Wednesday, May 4th. Finally, Wedbush dropped their price objective 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. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $3.60.
The company’s market capitalization is $338.71 million. The firm’s 50-day moving average is $2.33 and its 200 day moving average is $2.66.
Glu Mobile (NASDAQ:GLUU) last announced its quarterly earnings data on Tuesday, May 3rd. The company reported ($0.03) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.02. During the same period last year, the company earned $0.02 EPS. The business earned $54 million during the quarter, compared to the consensus estimate of $48.20 million. The business’s revenue was down 13.5% compared to the same quarter last year. Analysts anticipate that Glu Mobile Inc. will post ($0.14) EPS for the current fiscal year.
In other Glu Mobile news, Director Ann Mather sold 25,000 shares of the company’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 transaction, the director now 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 is accessible through this hyperlink. Also, Director William J. Miller sold 20,100 shares of the company’s stock in a transaction 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 completion of the transaction, the director now directly owns 95,100 shares in the company, valued at approximately $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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