Rumble (NASDAQ:RUM) Lowered to "Sell" Rating by Wall Street Zen

Key Points

• Rumble has been downgraded from a "hold" rating to a "sell" rating by Wall Street Zen.
• The company's earnings report showed a loss of ($0.14) per share, missing estimates, with revenue of $25.09 million.
• Institutional investors hold 26.15% of Rumble's stock, with several firms increasing their stakes during the second quarter.

Rumble (NASDAQ:RUM - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Saturday.

Rumble Stock Down 2.3%

Shares of NASDAQ RUM traded down $0.1850 during midday trading on Friday, reaching $7.7050. 1,641,814 shares of the stock were exchanged, compared to its average volume of 2,969,968. The firm has a 50-day simple moving average of $8.84 and a two-hundred day simple moving average of $8.89. Rumble has a twelve month low of $4.92 and a twelve month high of $17.40. The firm has a market cap of $3.35 billion, a price-to-earnings ratio of -5.38 and a beta of 0.72.

Rumble (NASDAQ:RUM - Get Free Report) last announced its quarterly earnings data on Sunday, August 10th. The company reported ($0.14) EPS for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.06). Rumble had a negative return on equity of 97.99% and a negative net margin of 289.37%.The company had revenue of $25.09 million for the quarter, compared to analyst estimates of $26.78 million. Rumble's revenue was up 11.6% compared to the same quarter last year. Research analysts expect that Rumble will post -0.62 EPS for the current fiscal year.

Institutional Trading of Rumble

Several hedge funds have recently added to or reduced their stakes in the business. North Star Investment Management Corp. lifted its holdings in Rumble by 60.0% during the first quarter. North Star Investment Management Corp. now owns 4,000 shares of the company's stock worth $28,000 after acquiring an additional 1,500 shares in the last quarter. Arizona State Retirement System lifted its stake in Rumble by 9.4% during the first quarter. Arizona State Retirement System now owns 18,727 shares of the company's stock worth $132,000 after purchasing an additional 1,615 shares during the last quarter. CWM LLC increased its holdings in Rumble by 41.9% in the second quarter. CWM LLC now owns 6,238 shares of the company's stock valued at $56,000 after purchasing an additional 1,843 shares during the period. Silver Oak Securities Incorporated boosted its position in Rumble by 6.2% during the second quarter. Silver Oak Securities Incorporated now owns 37,539 shares of the company's stock valued at $337,000 after acquiring an additional 2,200 shares during the last quarter. Finally, Coppell Advisory Solutions LLC bought a new position in shares of Rumble during the 4th quarter worth about $35,000. 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.