Glu Mobile (NASDAQ:GLUU) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a report issued on Wednesday.

GLUU has been the subject of a number of other reports. Zacks Investment Research upgraded Glu Mobile from a “hold” rating to a “buy” rating and set a $9.00 price target for the company in a report on Tuesday, November 13th. Wedbush reiterated a “hold” rating and set a $7.00 price target on shares of Glu Mobile in a report on Wednesday, November 7th. Finally, Roth Capital lowered Glu Mobile from a “buy” rating to a “neutral” rating in a report on Monday, October 8th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $7.50.

GLUU opened at $7.40 on Wednesday. Glu Mobile has a twelve month low of $3.02 and a twelve month high of $8.42. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.26 and a quick ratio of 1.26. The company has a market capitalization of $1.03 billion, a P/E ratio of -14.51, a P/E/G ratio of 4.69 and a beta of 1.02.

Glu Mobile (NASDAQ:GLUU) last issued its quarterly earnings results on Tuesday, November 6th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. Glu Mobile had a negative return on equity of 19.28% and a negative net margin of 14.65%. The company had revenue of $99.30 million during the quarter, compared to analyst estimates of $96.14 million. During the same period in the previous year, the company earned ($0.09) earnings per share. The company’s quarterly revenue was up 22.4% compared to the same quarter last year. Equities analysts expect that Glu Mobile will post 0.1 earnings per share for the current year.

In other news, CRO Chris Akhavan sold 39,903 shares of the business’s stock in a transaction that occurred on Wednesday, November 7th. The stock was sold at an average price of $8.09, for a total transaction of $322,815.27. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ann Mather sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, October 8th. The shares were sold at an average price of $6.31, for a total value of $631,000.00. Following the sale, the director now owns 103,666 shares in the company, valued at $654,132.46. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 229,213 shares of company stock valued at $1,579,878. Corporate insiders own 5.80% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in GLUU. ClariVest Asset Management LLC bought a new stake in shares of Glu Mobile during the second quarter valued at approximately $152,000. Fusion Family Wealth LLC bought a new stake in shares of Glu Mobile during the second quarter valued at approximately $160,000. Quantitative Systematic Strategies LLC bought a new stake in shares of Glu Mobile during the second quarter valued at approximately $190,000. Algert Global LLC bought a new stake in shares of Glu Mobile during the second quarter valued at approximately $204,000. Finally, Ibex Investors LLC bought a new stake in shares of Glu Mobile during the third quarter valued at approximately $212,000. Institutional investors and hedge funds own 56.31% of the company’s stock.

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 d├ęcor, 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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Analyst Recommendations for Glu Mobile (NASDAQ:GLUU)

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