Glu Mobile Inc. (GLUU) Sees Large Volume Increase
Glu Mobile Inc. (NASDAQ:GLUU) saw an uptick in trading volume on Monday . 1,866,997 shares traded hands during trading, a decline of 5% from the previous session’s volume of 1,973,987 shares.The stock last traded at $2.64 and had previously closed at $2.56.
A number of brokerages recently commented on GLUU. Roth Capital downgraded shares of Glu Mobile from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $4.15 to $2.50 in a research report on Wednesday, May 4th. Zacks Investment Research downgraded shares of Glu Mobile from a “buy” rating to a “hold” rating in a research report on Monday, May 2nd. Wedbush lowered their price objective on shares of Glu Mobile from $3.30 to $2.65 and set a “neutral” rating on the stock in a research report on Wednesday, May 4th. Benchmark Co. downgraded shares of Glu Mobile from a “buy” rating to a “hold” rating and lowered their price objective for the company from $3.68 to $2.70 in a research report on Wednesday, May 4th. Finally, Canaccord Genuity reaffirmed a “hold” rating and set a $4.00 price objective on shares of Glu Mobile in a research report on Monday, April 4th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Glu Mobile has an average rating of “Hold” and an average target price of $3.60.
The stock’s market capitalization is $346.65 million. The stock has a 50 day moving average of $2.35 and a 200-day moving average of $2.67.
Glu Mobile (NASDAQ:GLUU) last announced its earnings results on Tuesday, May 3rd. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.02. The company had revenue of $54 million for the quarter, compared to analyst estimates of $48.20 million. The business’s quarterly revenue was down 13.5% on a year-over-year basis. During the same quarter last year, the business posted $0.02 earnings per share. On average, analysts anticipate that Glu Mobile Inc. will post ($0.14) earnings per share for the current year.
In other news, VP Gregory J. Cannon sold 55,000 shares of Glu Mobile stock in a transaction that occurred on Thursday, July 14th. The shares were sold at an average price of $2.50, for a total value of $137,500.00. Following the sale, the vice president now directly owns 83,771 shares in the company, valued at $209,427.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ann Mather sold 20,100 shares of Glu Mobile stock in a transaction that occurred on Thursday, May 19th. The shares were sold at an average price of $2.48, for a total transaction of $49,848.00. Following the completion of the sale, the director now owns 48,766 shares in the company, valued at $120,939.68. 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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