Glu Mobile Inc. (GLUU) Stock Price Up 1.3%
Glu Mobile Inc. (NASDAQ:GLUU) shares rose 1.3% on Friday . The company traded as high as $2.39 and last traded at $2.31, with a volume of 1,052,460 shares trading hands. The stock had previously closed at $2.28.
GLUU has been the topic of a number of research reports. Zacks Investment Research lowered Glu Mobile from a “buy” rating to a “hold” rating in a report on Monday, May 2nd. Benchmark Co. lowered Glu Mobile from a “buy” rating to a “hold” rating and cut their price objective for the company from $3.68 to $2.70 in a report on Wednesday, May 4th. Wedbush set a $2.25 price objective on Glu Mobile and gave the company a “hold” rating in a report on Wednesday, August 3rd. Northland Securities lowered Glu Mobile from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 3rd. Finally, Roth Capital lowered Glu Mobile from a “buy” rating to a “neutral” rating and cut their price objective for the company from $4.15 to $2.50 in a report on Wednesday, May 4th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $3.41.
The stock has a 50-day moving average price of $2.36 and a 200 day moving average price of $2.66. The firm’s market cap is $311.21 million.
Glu Mobile (NASDAQ:GLUU) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.02. The business had revenue of $48.40 million for the quarter, compared to analysts’ expectations of $47.25 million. The firm’s quarterly revenue was down 13.9% on a year-over-year basis. During the same period last year, the firm earned $0.01 earnings per share. Analysts forecast that Glu Mobile Inc. will post ($0.15) EPS for the current fiscal year.
In other news, VP Gregory J. Cannon sold 55,000 shares of Glu Mobile stock in a transaction dated Thursday, July 14th. The stock was sold at an average price of $2.50, for a total transaction of $137,500.00. Following the sale, the vice president now owns 83,771 shares in the company, valued at $209,427.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 in the company, valued at approximately $126,651.76. 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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