Glu Mobile Inc. (GLUU) Trading Up 1.3%
Glu Mobile Inc. (NASDAQ:GLUU) shares were up 1.3% during mid-day trading on Friday . The stock traded as high as $2.39 and last traded at $2.31, with a volume of 1,052,460 shares traded. The stock had previously closed at $2.28.
Several research analysts recently issued reports on GLUU shares. Zacks Investment Research upgraded shares of Glu Mobile from a “sell” rating to a “hold” rating in a research note on Tuesday, August 9th. Wedbush decreased their price target on shares of Glu Mobile from $2.65 to $2.45 and set a “neutral” rating for the company in a research note on Friday, July 29th. Canaccord Genuity reiterated a “neutral” rating and issued a $3.00 price target on shares of Glu Mobile in a research note on Friday, August 5th. Benchmark Co. lowered shares of 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. Finally, Roth Capital reissued a “neutral” rating and set a $2.00 price objective (down from $2.50) on shares of Glu Mobile in a research report on Friday, August 5th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Glu Mobile currently has an average rating of “Hold” and an average price target of $3.41.
The company’s market cap is $311.21 million. The stock’s 50 day moving average price is $2.36 and its 200 day moving average price is $2.66.
Glu Mobile (NASDAQ:GLUU) last issued its earnings results on Tuesday, August 2nd. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.02. The company had revenue of $48.40 million for the quarter, compared to analysts’ expectations of $47.25 million. The firm’s revenue for the quarter was down 13.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.01 earnings per share. On average, analysts forecast that Glu Mobile Inc. will post ($0.15) earnings per share for the current year.
In related 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 value of $137,500.00. Following the completion of 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 accessible through this hyperlink. Also, Director Ann Mather sold 25,000 shares of Glu Mobile stock in a transaction dated Thursday, June 2nd. The shares were sold at an average price of $2.36, for a total value of $59,000.00. Following the completion of the sale, the director now owns 53,666 shares of the company’s stock, valued at $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.
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.