Rumble (NASDAQ:RUM) Rating Lowered to “Strong Sell” at Zacks Research

Rumble (NASDAQ:RUM) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Monday, Zacks reports.

Several other research analysts also recently issued reports on RUM. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rumble in a report on Friday, July 24th. Lake Street Capital initiated coverage on shares of Rumble in a research report on Tuesday, October 6th. They set a “hold” rating and a $25.00 price target on the stock. Finally, Wall Street Zen lowered Rumble from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. One research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Sell” and an average target price of $25.00.

Rumble Stock Down 1.9%

Shares of RUM stock opened at $6.71 on Monday. Rumble has a 12 month low of $4.62 and a 12 month high of $10.60. The firm has a market cap of $3.33 billion, a PE ratio of -11.37 and a beta of 1.25. The stock has a 50 day moving average of $8.03 and a 200-day moving average of $7.17. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.25.

Rumble (NASDAQ:RUM) last released its earnings results on Monday, August 10th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.18). Rumble had a negative net margin of 134.60% and a negative return on equity of 22.77%. The company had revenue of $40.37 million during the quarter, compared to the consensus estimate of $31.23 million. During the same quarter in the previous year, the business posted ($0.12) EPS. The firm’s quarterly revenue was up 61.0% on a year-over-year basis. On average, equities analysts predict that Rumble will post -0.55 EPS for the current year.

Institutional Trading of Rumble

Hedge funds have recently made changes to their positions in the business. Integrated Wealth Concepts LLC bought a new position in shares of Rumble in the second quarter valued at about $69,000. State of Wyoming acquired a new position in shares of Rumble in the first quarter valued at about $62,000. Hsbc Holdings PLC bought a new position in Rumble during the first quarter worth about $81,000. Corient Private Wealth LP acquired a new stake in shares of Rumble in the second quarter valued at approximately $164,000. Finally, Handelsbanken Fonder AB boosted its stake in shares of Rumble by 38.1% in the second quarter. Handelsbanken Fonder AB now owns 39,500 shares of the company’s stock valued at $250,000 after buying an additional 10,900 shares during the period. 26.15% of the stock is owned by institutional investors and hedge funds.

About Rumble

Rumble Inc is a video-sharing and social media company that operates the Rumble platform, where users can upload, watch, livestream and share video content. The company also provides related tools for creators, including audience engagement and monetization services, and generates revenue through advertising, subscriptions and other digital offerings.

In addition to its consumer video platform, Rumble offers cloud infrastructure services through Rumble Cloud. These services are designed to support video hosting, storage, distribution and other online applications.