Glu Mobile Short Interest Up 50.8% in July (GLUU)
Glu Mobile (NASDAQ:GLUU) was the target of a significant increase in short interest during the month of July. As of July 31st, there was short interest totalling 18,129,101 shares, an increase of 50.8% from the July 15th total of 12,023,499 shares, Stock Ratings Network reports. Currently, 21.0% of the company’s shares are sold short. Based on an average trading volume of 15,314,010 shares, the short-interest ratio is presently 1.2 days.
In other Glu Mobile news, CFO Eric R. Ludwig unloaded 169,362 shares of the company’s stock on the open market in a transaction dated Thursday, August 7th. The stock was sold at an average price of $5.30, for a total value of $897,618.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
GLUU has been the subject of a number of recent research reports. Analysts at Canaccord Genuity raised their price target on shares of Glu Mobile from $5.50 to $8.00 in a research note on Thursday, July 31st. They now have a “buy” rating on the stock. Separately, analysts at Northland Securities raised their price target on shares of Glu Mobile from $9.00 to $9.50 in a research note on Thursday, July 31st. They now have an “accumulate” rating on the stock. Finally, analysts at Benchmark Co. downgraded shares of Glu Mobile from a “buy” rating to a “hold” rating in a research note on Thursday, July 31st. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $6.72.
Shares of Glu Mobile (NASDAQ:GLUU) traded up 1.32% on Monday, hitting $5.36. The stock had a trading volume of 5,016,342 shares. Glu Mobile has a 52-week low of $2.10 and a 52-week high of $7.60. The stock’s 50-day moving average is $5.74 and its 200-day moving average is $4.69. The company’s market cap is $458.5 million.
Glu Mobile (NASDAQ:GLUU) last posted its quarterly earnings results on Wednesday, July 30th. The company reported ($0.02) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.04) by $0.02. The company had revenue of $35.00 million for the quarter, compared to the consensus estimate of $33.24 million. During the same quarter last year, the company posted ($0.05) earnings per share. Glu Mobile’s revenue was up 50.9% compared to the same quarter last year. Analysts expect that Glu Mobile will post $0.21 EPS for the current fiscal year.
Glu Mobile Inc (NASDAQ:GLUU), markets and sells mobile games.
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