Rumble (NASDAQ:RUM) Research Coverage Started at Lake Street Capital

Lake Street Capital assumed coverage on shares of Rumble (NASDAQ:RUM) in a report issued on Tuesday morning, Marketbeat Ratings reports. The firm issued a hold rating and a $25.00 price target on the stock.

Several other brokerages have also issued reports on RUM. Wall Street Zen lowered shares of Rumble from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rumble in a research report on Friday, July 24th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $25.00.

Rumble Stock Down 6.9%

Shares of NASDAQ RUM opened at $7.00 on Tuesday. The company has a 50 day simple moving average of $7.98 and a 200 day simple moving average of $7.14. The firm has a market cap of $3.47 billion, a PE ratio of -11.86 and a beta of 1.25. Rumble has a 1 year low of $4.62 and a 1 year high of $10.60. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.12 and a quick ratio of 2.12.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Integrated Wealth Concepts LLC bought a new stake in shares of Rumble during the second quarter valued at approximately $69,000. Corient Private Wealth LP bought a new stake in shares of Rumble in the 2nd quarter worth $164,000. Handelsbanken Fonder AB lifted its holdings in shares of Rumble by 38.1% during the second quarter. Handelsbanken Fonder AB now owns 39,500 shares of the company’s stock valued at $250,000 after purchasing an additional 10,900 shares in the last quarter. Cooper Creek Partners Management LLC lifted its holdings in shares of Rumble by 54.1% during the first quarter. Cooper Creek Partners Management LLC now owns 5,242,497 shares of the company’s stock valued at $26,737,000 after purchasing an additional 1,840,893 shares in the last quarter. Finally, State of Wyoming bought a new stake in Rumble in the 1st quarter worth about $62,000. Institutional investors own 26.15% of the company’s stock.

Rumble Company Profile

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.