Rumble (NASDAQ:RUM) Stock Picked Up by Analysts at Lake Street Capital

Lake Street Capital started coverage on shares of Rumble (NASDAQ:RUM) in a research note issued to investors on Tuesday, MarketBeat reports. The brokerage set a “hold” rating and a $25.00 price target on the stock. Lake Street Capital’s price objective points to a potential upside of 232.45% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Rumble in a report on Friday, July 24th. Wall Street Zen lowered shares of Rumble from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $25.00.

Rumble Stock Performance

Shares of RUM stock opened at $7.52 on Tuesday. The stock has a fifty day moving average price of $7.96 and a 200 day moving average price of $7.13. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.12 and a current ratio of 2.12. The stock has a market cap of $3.73 billion, a PE ratio of -12.75 and a beta of 1.25. Rumble has a 1 year low of $4.62 and a 1 year high of $10.60.

Rumble (NASDAQ:RUM) last posted 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). The firm had revenue of $40.37 million during the quarter, compared to analyst estimates of $31.23 million. Rumble had a negative net margin of 134.60% and a negative return on equity of 22.77%. The firm’s revenue for the quarter was up 61.0% on a year-over-year basis. During the same period last year, the company posted ($0.12) EPS. Sell-side analysts forecast that Rumble will post -0.55 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its position in Rumble by 0.5% during the first quarter. Bank of New York Mellon Corp now owns 322,245 shares of the company’s stock worth $1,643,000 after buying an additional 1,475 shares during the period. Sigma Planning Corp grew its holdings in Rumble by 2.1% in the 1st quarter. Sigma Planning Corp now owns 162,699 shares of the company’s stock valued at $830,000 after buying an additional 3,349 shares during the period. Handelsbanken Fonder AB grew its holdings in Rumble by 38.1% in the 2nd 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. Integrated Wealth Concepts LLC acquired a new position in shares of Rumble during the 2nd quarter valued at about $69,000. Finally, State of Wyoming purchased a new position in shares of Rumble during the 1st quarter worth about $62,000. 26.15% of the stock is currently owned by hedge funds and other institutional investors.

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.