Rumble (NASDAQ:RUM) Stock Rating Cut to Strong Sell at Zacks Research

Zacks Research cut shares of Rumble (NASDAQ:RUM) from a hold rating to a strong sell rating in a research report report published on Monday,Zacks reports.

Several other analysts have also recently weighed in on the company. Lake Street Capital started coverage on Rumble in a research report on Tuesday, October 6th. They set a “hold” rating and a $25.00 price objective on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Rumble in a research note on Friday, July 24th. Finally, Wall Street Zen cut Rumble from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. One equities research analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Rumble has an average rating of “Sell” and a consensus target price of $25.00.

Rumble Price Performance

RUM opened at $6.71 on Monday. The stock’s 50 day simple moving average is $8.03 and its 200 day simple moving average is $7.17. 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. The firm has a market cap of $3.33 billion, a price-to-earnings ratio of -11.37 and a beta of 1.25.

Rumble (NASDAQ:RUM) last announced its quarterly earnings results 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 firm had revenue of $40.37 million during the quarter, compared to the consensus estimate of $31.23 million. During the same period last year, the business earned ($0.12) EPS. Rumble’s revenue was up 61.0% on a year-over-year basis. As a group, analysts predict that Rumble will post -0.55 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp boosted its stake in shares of Rumble by 0.5% during the 1st quarter. Bank of New York Mellon Corp now owns 322,245 shares of the company’s stock worth $1,643,000 after purchasing an additional 1,475 shares during the period. Sigma Planning Corp grew its holdings in Rumble by 2.1% during the 1st quarter. Sigma Planning Corp now owns 162,699 shares of the company’s stock valued at $830,000 after purchasing an additional 3,349 shares during the last quarter. Handelsbanken Fonder AB raised its position in Rumble by 38.1% in the 2nd quarter. Handelsbanken Fonder AB now owns 39,500 shares of the company’s stock worth $250,000 after purchasing an additional 10,900 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in Rumble in the 2nd quarter worth about $69,000. Finally, State of Wyoming purchased a new stake in Rumble in the 1st quarter worth about $62,000. 26.15% of the stock is owned by hedge funds and other institutional investors.

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.