Thumzup Media (NASDAQ:TZUP) Upgraded by Wall Street Zen to Hold Rating

Key Points

• Thumzup Media's stock rating was upgraded from a sell to a hold by Wall Street Zen, indicating a shift in analysts' outlook on the stock.
• The company's stock has experienced significant volatility, with a one-year low of $2.02 and a high of $16.49, and currently has a market capitalization of $112.04 million.
• Insider trading activity includes CEO Robert A. Steele selling 2.5 million shares at an average price of $0.50, resulting in an 80.59% decrease in his ownership of the stock.

Wall Street Zen upgraded shares of Thumzup Media (NASDAQ:TZUP - Free Report) from a sell rating to a hold rating in a research report sent to investors on Saturday.

Thumzup Media Price Performance

NASDAQ TZUP traded up $0.25 during trading on Friday, reaching $5.26. 1,587,743 shares of the company's stock were exchanged, compared to its average volume of 1,043,184. The business has a 50 day moving average price of $10.31 and a 200-day moving average price of $6.82. The stock has a market capitalization of $59.23 million and a P/E ratio of -7.21. Thumzup Media has a fifty-two week low of $2.02 and a fifty-two week high of $16.49.

Thumzup Media (NASDAQ:TZUP - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The company reported ($0.12) earnings per share for the quarter.

Insiders Place Their Bets

In other Thumzup Media news, CEO Robert A. Steele sold 2,500,000 shares of the business's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $0.50, for a total transaction of $1,250,000.00. Following the transaction, the chief executive officer owned 602,000 shares of the company's stock, valued at $301,000. The trade was a 80.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 43.50% of the stock is currently owned by company insiders.

Institutional Trading of Thumzup Media

Several institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC acquired a new position in Thumzup Media in the 4th quarter valued at $80,000. Kestra Private Wealth Services LLC grew its holdings in Thumzup Media by 195.5% in the 1st quarter. Kestra Private Wealth Services LLC now owns 39,300 shares of the company's stock valued at $159,000 after buying an additional 26,000 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in Thumzup Media in the 2nd quarter valued at $207,000.

About Thumzup Media

Thumzup Media Corporation is a provider of social media branding and marketing solutions which allow businesses and brands to pay customers and fans cash through Venmo and PayPal for their posts on social media. Thumzup Media Corporation is based in Los Angeles, CA.