Company shares are trading at $4.28 quite a bit above $3.80, the stock’s 50 day moving average and much higher than the 200 day moving average of $2.98. The 50 day moving average was up by +12.50% whereas the 200 day average was up by +43.67%. Trading was light with 3,951K shares changing hands in the last trading session. Volume was down 19.93% under the stocks average daily volume.
Traders are more bullish on the company recently at least if you consider the change in short interest. The firm had a fall in short interest of -59.09% as of the latest report on September 29, 2017. Short shares decreased from 11,299,327 to 4,622,456 over that timeframe. Days to cover decreased from 4.0 to 2.0 and the percentage of shorted shares was 0.03% on September 29.
Here is a rundown on some insider market activity for Glu Mobile Inc. (NASDAQ:GLUU). EVP Eric R. Ludwig disclosed the sale of 160,000 shares of GLUU stock. The shares were purchased at an average price of $3.67. The EVP now owns $209,190 of the stock according to the SEC filing. Eric R. Ludwig, EVP reported the sale of 100,000 shares of (GLUU). The shares were sold on October 2nd for an average price of $3.75. Ludwig now owns $213,750 of the stock per the Form 4 SEC filing.
These funds have shifted positions in (GLUU). As of the end of the quarter Ubs Group Ag had acquired a total of 17,900 shares growing its holdings by 175.0%. The value of the investment in (GLUU) increased from $23,000 to $70,000 a change of 204.3% since the last quarter. As of quarter end Engineers Gate Manager Lp had bought 397,771 shares growing its position 214.6%. The value of the company’s investment in Glu Mobile Inc. went from $421,000 to $1,458,000 a change of $1,037,000 quarter to quarter.
Cutler Group LP trimmed its investment by shedding 4,513 shares a decrease of 95.8% as of 09/30/2017. Cutler Group LP currently owns 200 shares valued at $0. The total value of its holdings decreased 100.0%. Bank Of Montreal /can/ reduced its position by selling 70,342 shares a decrease of 43.8%. Bank Of Montreal /can/ now controls 90,198 shares worth $339,000. The value of the position overall is down by 15.5%.
On October 12 the stock rating was downgraded to “Hold” from “Buy” in a statement from Benchmark.
In the last earnings report the EPS was $-0.80 and is expected to be $-0.08 for the current year with 135,414,000 shares outstanding. Next quarter’s EPS is expected be $-0.01 and the next full year EPS is projected to be $0.12.
Glu Mobile Inc., launched on November 16, 2006, develops, publishes and markets a portfolio of mobile games. The Company develops and publishes a portfolio of mobile games designed to appeal to a cross section of the users of smartphones and tablet devices. Its portfolio of mobile games is spread across various genres, including Fashion and Celebrity, Food, Sports and Action, Social Networking and Home. Its portfolio of games include Contract Killer, Cooking Dash, Covet Fashion, Deer Hunter, Design Home, QuizUp, Racing Rivals and Tap Sports Baseball, as well as games based on third party licensed brands, including Gordon Ramsay DASH, Kendall & Kylie, and Kim Kardashian: Hollywood..