Glu Mobile Sees Large Increase in Short Interest (GLUU)
Shares of Glu Mobile (NASDAQ:GLUU) were the target of a significant growth in short interest in August. As of August 15th, there was short interest totalling 25,507,213 shares, a growth of 40.7% from the July 31st total of 18,129,101 shares, AmericanBankingNews.com reports. Approximately 29.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 9,161,219 shares, the days-to-cover ratio is presently 2.8 days.
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 issued a buy rating and one has issued a strong buy rating to the stock. Glu Mobile has an average rating of “Buy” and an average price target of $6.72.
Shares of Glu Mobile (NASDAQ:GLUU) opened at 5.15 on Friday. Glu Mobile has a 1-year low of $2.10 and a 1-year high of $7.60. The stock has a 50-day moving average of $5.86 and a 200-day moving average of $4.78. The company’s market cap is $495.9 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. On average, analysts predict that Glu Mobile will post $0.20 earnings per share for the current fiscal year.
Glu Mobile Inc (NASDAQ:GLUU), markets and sells mobile games.