Rumble (NASDAQ:RUM) Earns Sell (E+) Rating from Weiss Ratings

Key Points

• Rumble's stock has received a "sell (E+)" rating from Weiss Ratings, reaffirming a negative outlook on the stock.
• The company's recent earnings report showed a loss of ($0.14) per share, missing estimates and reflecting a negative net margin of 289.37%.
• Despite its struggles, Rumble's revenue increased by 11.6% year-over-year, indicating some growth potential in a challenging market.

Rumble (NASDAQ:RUM - Get Free Report)'s stock had its "sell (e+)" rating reaffirmed by equities research analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Separately, Wall Street Zen cut Rumble from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $14.00.

Rumble Trading Up 3.9%

Shares of RUM opened at $8.18 on Wednesday. The business's 50 day moving average is $7.67 and its 200 day moving average is $8.30. The company has a market capitalization of $3.56 billion, a PE ratio of -5.72 and a beta of 0.69. Rumble has a 12-month low of $5.20 and a 12-month high of $17.40.

Rumble (NASDAQ:RUM - Get Free Report) last issued its earnings results on Sunday, August 10th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.06). The business had revenue of $25.09 million for the quarter, compared to the consensus estimate of $26.78 million. Rumble had a negative net margin of 289.37% and a negative return on equity of 97.99%. Rumble's revenue was up 11.6% on a year-over-year basis. Equities research analysts predict that Rumble will post -0.62 earnings per share for the current year.

Hedge Funds Weigh In On Rumble

Several hedge funds have recently bought and sold shares of RUM. North Star Investment Management Corp. grew its position in Rumble by 60.0% in the 1st quarter. North Star Investment Management Corp. now owns 4,000 shares of the company's stock valued at $28,000 after acquiring an additional 1,500 shares during the last quarter. Silver Oak Securities Incorporated boosted its position in Rumble by 10.6% during the first quarter. Silver Oak Securities Incorporated now owns 35,339 shares of the company's stock valued at $256,000 after purchasing an additional 3,400 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in Rumble by 1.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 229,657 shares of the company's stock worth $1,624,000 after acquiring an additional 3,096 shares in the last quarter. Golden State Wealth Management LLC grew its stake in shares of Rumble by 57,242.9% during the first quarter. Golden State Wealth Management LLC now owns 8,028 shares of the company's stock worth $57,000 after acquiring an additional 8,014 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Rumble by 100.2% during the first quarter. Bank of New York Mellon Corp now owns 26,823 shares of the company's stock worth $190,000 after acquiring an additional 13,427 shares during the last quarter. Institutional investors own 26.15% of the company's stock.

About Rumble

Rumble Inc operates video sharing platforms in the United States, Canada, and internationally. The company operates rumble.com, a free-to-use video sharing and livestreaming platform where users can subscribe to channels to stay in touch with creators, and access video on-demand (VOD) and live content streamed by creators.

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