Thumzup Media (NASDAQ:TZUP) Issues Quarterly Earnings Results

Thumzup Media (NASDAQ:TZUP) posted its earnings results on Friday. The company reported ($0.77) earnings per share for the quarter, Zacks reports. The business had revenue of $0.38 million for the quarter.

Thumzup Media Trading Down 2.7%

Shares of TZUP opened at $3.64 on Friday. The firm’s fifty day simple moving average is $4.80 and its two-hundred day simple moving average is $7.35. Thumzup Media has a 12 month low of $2.02 and a 12 month high of $16.49. The stock has a market capitalization of $60.21 million and a P/E ratio of -2.53.

Institutional Investors Weigh In On Thumzup Media

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of Thumzup Media by 401.3% during the 3rd quarter. Vanguard Group Inc. now owns 283,270 shares of the company’s stock worth $1,416,000 after buying an additional 226,767 shares in the last quarter. Marshall Wace LLP bought a new position in Thumzup Media during the second quarter worth $207,000. Finally, Geode Capital Management LLC grew its holdings in Thumzup Media by 27.4% in the second quarter. Geode Capital Management LLC now owns 43,596 shares of the company’s stock worth $306,000 after purchasing an additional 9,371 shares during the period.

Thumzup Media declared that its board has initiated a stock repurchase plan on Wednesday, September 24th that permits the company to repurchase $10.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 13.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on TZUP shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Thumzup Media in a report on Wednesday, October 8th. Wall Street Zen lowered Thumzup Media from a “hold” rating to a “sell” rating in a research report on Sunday, August 24th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

About Thumzup Media

Thumzup Media Corporation is a provider of social media branding and marketing solutions which allow businesses and brands to pay customers and fans cash through Venmo and PayPal for their posts on social media. Thumzup Media Corporation is based in Los Angeles, CA.