Glu Mobile Sees Large Decline in Short Interest (GLUU)
Shares of Glu Mobile (NASDAQ:GLUU) were the recipient of a significant decline in short interest in June. As of June 13th, there was short interest totalling 13,043,458 shares, a decline of 6.1% from the May 30th total of 13,892,270 shares, AnalystRatings.NET reports. Based on an average daily volume of 1,828,972 shares, the days-to-cover ratio is currently 7.1 days. Currently, 17.5% of the shares of the stock are sold short.
Several analysts have recently commented on the stock. Analysts at Benchmark Co. upgraded shares of Glu Mobile from a “hold” rating to a “buy” rating in a research note on Friday. They now have a $5.60 price target on the stock, up previously from $4.62. Separately, analysts at Zacks downgraded shares of Glu Mobile from an “outperform” rating to a “neutral” rating in a research note on Monday, May 12th. They now have a $5.00 price target on the stock. Finally, analysts at Needham & Company LLC upgraded shares of Glu Mobile from a “buy” rating to a “strong-buy” rating in a research note on Thursday, May 1st. They now have a $6.00 price target on the stock, up previously from $5.00. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $5.15.
Shares of Glu Mobile (NASDAQ:GLUU) opened at 5.00 on Tuesday. Glu Mobile has a one year low of $2.10 and a one year high of $5.65. The stock’s 50-day moving average is $3.87 and its 200-day moving average is $4.25. The company’s market cap is $406.6 million.
Glu Mobile (NASDAQ:GLUU) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.04. The company had revenue of $44.60 million for the quarter, compared to the consensus estimate of $39.45 million. Analysts expect that Glu Mobile will post $0.03 EPS for the current fiscal year.
Glu Mobile Inc (NASDAQ:GLUU) designs, markets and sells mobile games.
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