Economy

Glu Mobile Inc. (GLUU)- Stocks Rallying on Glossy Performance Evaluation

Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company.

The stock is now moving with a Positive distance from 200-Day Simple Moving Average of about 39.75% and has a pretty decent Year to Date (YTD) Performance of 76.29% which means the stock is constantly adding to its value from previous fiscal year end price.

So the company beats the analysts estimate by $0.06/share showing a surprise of 60%. Canaccord Genuity reaffirmed a "hold" rating and set a $3.00 price target on shares of Glu Mobile in a research report on Friday, June 30th. Roth Capital set a $4.00 price target on Glu Mobile and gave the stock a "buy" rating in a research report on Thursday, August 3rd. (NASDAQ:GLUU) shares can stay above the price resistance around $3.49 a share, that could help propel Glu Mobile Inc. ValuEngine upgraded shares of Glu Mobile from a "sell" rating to a "hold" rating in a report on Friday, August 18th. The rating was maintained by Stifel Nicolaus with "Buy" on Monday, July 10. They now have a United States dollars 3.5 price target on the stock. Following the transaction, the chief operating officer now directly owns 82,000 shares in the company, valued at $281,260. Active and passive investors always require every bit of information available regarding his chosen security and this include keeping close watch on fundamental and technical data. Also, COO Eric R. Ludwig sold 49,000 shares of the firm's stock in a transaction on Tuesday, August 15th. The firm's 50-day moving average price is $3.11 and its 200-day moving average price is $2.56. Parallax Volatility Advisers, L.p. now owns 750,000 shares with a value of $1,875,000. The disclosure for this sale can be found here.

Glu Mobile Inc. (NASDAQ:GLUU) has a beta of 1.89, compared to a beta of 1 for the market, which implies that the stock's price movements are more extreme than the market as a whole. Goldman Sachs Group Inc. now owns 47,691 shares of the company's stock valued at $108,000 after buying an additional 26,535 shares during the last quarter.

Other large investors also recently added to or reduced their stakes in the company. The value of the company's investment in Glu Mobile Inc. went from $868,000 to $390,000 decreasing 55.1% since the last quarter. Vanguard Group Inc. grew its holdings in Glu Mobile by 8.0% in the first quarter. State Street Corp now owns 1,914,877 shares of the company's stock worth $4,791,000 after purchasing an additional 120,550 shares during the period. Glu Mobile Inc. (NASDAQ:GLUU) has noticeable measure of stock volatility, for this average true range is an exponential moving average (14 trading days) of the True Ranges. Finally, Voya Investment Management LLC increased its holdings in Glu Mobile by 19.2% during the second quarter. UBS Asset Management Americas Inc. now owns 73,207 shares of the company's stock valued at $166,000 after buying an additional 42,800 shares during the period. Nationwide Fund Advisors increased its stake in Glu Mobile by 69.2% in the first quarter.

Shares of Glu Mobile (GLUU) traded down 0.29% on Wednesday, reaching $3.42. The company had a trading volume of 3,727,115 shares. Recently, the equity stands 41.86% away from the 52-week high and -7.03% from the 52-week low. The stock's market capitalization is 463.12M. The company's 50-day moving average is $2.83 and its 200-day moving average is $2.47.

Glu Mobile Inc., launched on November 16, 2006, develops, publishes and markets a portfolio of mobile games.



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