Glu Mobile Inc. (GLUU) Shares Up 3%
Glu Mobile Inc. (NASDAQ:GLUU) shares shot up 3% during mid-day trading on Monday . The company traded as high as $2.45 and last traded at $2.41, with a volume of 1,305,083 shares changing hands. The stock had previously closed at $2.34.
A number of research firms recently issued reports on GLUU. Wedbush decreased their target price on shares of Glu Mobile from $2.65 to $2.45 and set a “neutral” rating for the company in a research report on Friday. Roth Capital restated a “neutral” rating and set a $2.50 target price on shares of Glu Mobile in a research report on Thursday. Canaccord Genuity restated a “hold” rating and set a $4.00 target price on shares of Glu Mobile in a research report on Monday, April 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. Finally, Benchmark Co. downgraded shares of Glu Mobile from a “buy” rating to a “hold” rating and decreased their target price for the company from $3.68 to $2.70 in a research report on Wednesday, May 4th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Glu Mobile currently has a consensus rating of “Hold” and an average target price of $3.58.
The company’s market capitalization is $320.19 million. The company has a 50 day moving average price of $2.38 and a 200-day moving average price of $2.67.
Glu Mobile (NASDAQ:GLUU) last announced its quarterly earnings results on Tuesday, May 3rd. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. During the same period last year, the firm earned $0.02 earnings per share. The business had revenue of $54 million for the quarter, compared to analyst estimates of $48.20 million. The company’s quarterly revenue was down 13.5% on a year-over-year basis. Equities analysts forecast that Glu Mobile Inc. will post ($0.14) EPS for the current fiscal year.
In other news, Director William J. Miller sold 20,100 shares of the business’s stock in a transaction on Wednesday, May 18th. The shares were sold at an average price of $2.34, for a total transaction of $47,034.00. Following the transaction, the director now directly owns 95,100 shares of the company’s stock, valued at $222,534. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Gregory J. Cannon sold 55,000 shares of the business’s stock in a transaction on Thursday, July 14th. The stock was sold at an average price of $2.50, for a total transaction of $137,500.00. Following the transaction, the vice president now directly owns 83,771 shares in the company, 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.