Shares of Glu Mobile Inc (NASDAQ:GLUU) moved up almost 7% to settle at $3.62 per share on Monday, after analyst of Northland Capital Markets Darren Aftahi lifted his rating on the mobile-gaming corporation to outperform from market perform.
Northland Capital Markets analysts Darren Aftahi said that based on the games Glu Mobile has unveiled current quarter, the corporation “has substantially enhanced its hit rate for new games,” and there is evidence Glu Mobile is seeing better-than-forecasted sales from games for smart phones.
Darren Aftahi also lifted his price target on Glu Mobile’s shares to $4.50 per share.
Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. Activision Blizzard, Inc. (NASDAQ:ATVI) fell -1.91% to settle at $14.37, Take-Two Interactive Software, Inc. (NASDAQ:TTWO) moved down -1.28% to end at $15.48 while S&P Emerging Markets Infrastruct. Ind Fd (NASDAQ:EMIF) dropped -0.37% to finish at $35.27 on Monday.
Glu Mobile Inc. (NASDAQ:GLUU) on March 18, 2013 increased +8.08% to the closing price of $3.61. The overall volume in the last trading session was 25.56 million shares. Its fifty two weeks range was $1.99 – $5.90. The total market capitalization remained at $238.05 million.
GLUU is ahead of its 52-week low with 81.41% and lagging behind from its 52-week high price with -38.81%. GLUU’s last month’s stock price volatility remained 7.31%. In its share capital GLUU has 65.94 million outstanding shares, among them 65.75 million shares have been floated in market exchange. GLUU’s stock’s institutional ownership remained 54.68% while insider ownership included 0.25%.
The stock price of GLUU is moving forward from its 20 days moving average with 48.84% and remote positively from 50 days moving average with 50.42%. GLUU’s current year’s earnings per share experienced an addition with 13.29% while its current quarter performance remained at 51.68%. Company’s beta coefficient included 2.37. Beta factors measure the amount of market risk associated with market trade.
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