Glu Mobile Inc. (GLUU) Got Crushed -2.25% Today. Here’s Why

Glu Mobile Inc. (NASDAQ:GLUU) is a stock to watch today. At current price of $7.47, the shares have already lost -0.17 points (-2.25% lower) from its previous close of $7.64. The stock sets an active trading volume day with a reported 2368791 contracts so far this session. GLUU shares had a relatively better volume day versus average trading capacity of 3.45 million shares, but with a 0.12 billion float and a -5.68% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for GLUU stock indicates that the average analyst price target is $7.7 per share. This means the stock has a potential increase of 3.08% from where the GLUU share price has been trading recently.

During the recent trading session for Glu Mobile Inc. (NASDAQ:GLUU), the company witnessed their stock rise $0.24 over a week and surge $1.34 from the price 20 days ago. When compared to their established 52-week high of $11.75, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 05/04/19. The recent low of $4.11 stood for a -36.44% since 08/26/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.99 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.

Looking at the current readings for Glu Mobile Inc., the two-week RSI stands at 60.95. This figure suggests that GLUU stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current GLUU readings is similarly very revealing as it has a stochastic reading of 62.38% at this stage. This figure means that GLUU share price today is being neutral.

Technical chart claims that Glu Mobile Inc. (GLUU) would settle between $7.98/share to $8.32/share level. However, if the stock price goes below the $7.12 mark, then the market for Glu Mobile Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $6.6 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.23. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.

Analysts at Morgan Stanley, assumed coverage of GLUU assigning Overweight rating, according to their opinion released on February 04. KeyBanc Capital Markets, analysts launched coverage of Glu Mobile Inc. (NASDAQ:GLUU) stock with a Overweight recommendation, according to their flash note issued to investors on January 15. Analysts at Stephens lowered the stock to a Equal-Weight call from its previous Overweight recommendation, in a research note that dated back to January 08.

GLUU equity has an average rating of 1.63, with the figure leaning towards a bullish end. 11 analysts who tracked the company were contacted by Reuters. Amongst them, 1 rated the stock as a hold while the remaining 10 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 10 analysts rated Glu Mobile Inc. (NASDAQ:GLUU) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.

Moving on, GLUU stock price is currently trading at 18.06X forward 12-month Consensus EPS estimates, and its P/E ratio is 127.3 while for the average stock in the same group, the multiple is 40.2. Glu Mobile Inc. current P/B ratio of 5.5 means it is trading at a premium against its industry’s 5.5.

Glu Mobile Inc. (GLUU)’s current-quarter revenues are projected to climb by nearly 3.3% to hit $95.61 million, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over 8.2% from $423300 to a noteworthy $457990. At the other end of the current quarter income statement, Glu Mobile Inc. is expected to see its adjusted earnings surge by roughly -100% to hit $0 per share. For the fiscal year, GLUU’s earnings are projected to climb by roughly -7.4% to hit $0.25 per share.