Glu Mobile Inc. (GLUU) Shares Down 6.2%
Glu Mobile Inc. (NASDAQ:GLUU) shares dropped 6.2% during trading on Tuesday . The company traded as low as $2.25 and last traded at $2.27, with a volume of 3,054,755 shares trading hands. The stock had previously closed at $2.42.
Several research firms have recently issued reports on GLUU. Roth Capital downgraded Glu Mobile from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $4.15 to $2.50 in a research note on Wednesday, May 4th. Benchmark Co. downgraded Glu Mobile from a “buy” rating to a “hold” rating and decreased their price target for the stock from $3.68 to $2.70 in a research note on Wednesday, May 4th. Wedbush decreased their price target 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. Zacks Investment Research downgraded Glu Mobile from a “hold” rating to a “sell” rating in a research note on Wednesday, May 11th. Finally, Canaccord Genuity reiterated a “hold” rating and set a $4.00 price target on shares of Glu Mobile in a research note on Monday, April 4th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $3.58.
The stock’s market capitalization is $302.99 million. The company’s 50-day moving average is $2.38 and its 200-day moving average is $2.68.
Glu Mobile (NASDAQ:GLUU) last released its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.02. The firm earned $48.40 million during the quarter, compared to analyst estimates of $47.25 million. During the same period in the prior year, the business earned $0.01 EPS. The business’s revenue for the quarter was down 13.9% compared to the same quarter last year. Equities analysts expect that Glu Mobile Inc. will post ($0.14) earnings per share for the current year.
In other Glu Mobile news, Director Ann Mather sold 25,000 shares of Glu Mobile stock in a transaction dated Thursday, June 2nd. The stock was sold at an average price of $2.36, for a total value of $59,000.00. Following the sale, the director now owns 53,666 shares of the company’s stock, valued at approximately $126,651.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William J. Miller sold 20,100 shares of Glu Mobile stock in a transaction dated 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 sale, 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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