Rumble (NASDAQ:RUM) Downgraded by Zacks Research to Strong Sell

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

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

Rumble Stock Down 1.9%

RUM stock opened at $6.71 on Monday. 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 has a 12-month low of $4.62 and a 12-month high of $10.60. The stock’s 50 day simple moving average is $8.03 and its 200 day simple moving average is $7.17.

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

Institutional Trading of Rumble

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

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.