Glu Mobile Inc. (NASDAQ:GLUU) was the recipient of a significant drop in short interest in the month of January. As of January 31st, there was short interest totalling 4,867,434 shares, a drop of 37.2% from the January 15th total of 7,754,533 shares. Based on an average daily trading volume, of 1,965,112 shares, the short-interest ratio is currently 2.5 days. Currently, 4.3% of the company’s stock are short sold.
GLUU opened at $9.36 on Thursday. Glu Mobile has a 1 year low of $3.58 and a 1 year high of $10.41. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.26 and a current ratio of 1.26. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of -117.00, a P/E/G ratio of 3.51 and a beta of 0.90.
In other news, Director Benjamin T. Iv Smith sold 179,595 shares of the firm’s stock in a transaction on Thursday, December 6th. The stock was sold at an average price of $7.37, for a total transaction of $1,323,615.15. Following the transaction, the director now owns 189,595 shares in the company, valued at $1,397,315.15. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 5.80% of the company’s stock.
Several brokerages have recently commented on GLUU. BidaskClub upgraded Glu Mobile from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, January 1st. Wedbush set a $10.20 target price on Glu Mobile and gave the company a “neutral” rating in a research note on Tuesday, February 5th. Piper Jaffray Companies lifted their target price on Glu Mobile to $11.00 and gave the company an “overweight” rating in a research note on Tuesday, February 5th. Zacks Investment Research lowered Glu Mobile from a “buy” rating to a “hold” rating in a research note on Friday, January 4th. Finally, Cowen lifted their target price on Glu Mobile to $9.50 and gave the company an “outperform” rating in a research note on Monday, December 10th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $9.31.
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Glu Mobile Company Profile
Glu Mobile Inc develops, publishes, and markets a portfolio of free-to-play mobile games for the users of smartphones and tablet devices. The company publishes titles in four genres, including home décor, sports and action, fashion and celebrity, and time management. It creates games based on its own brands, including Contract Killer, Cooking Dash, Covet Fashion, Deer Hunter, Design Home, and QuizUp.
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