Thumzup Media (NASDAQ:TZUP) Cut to Sell at Wall Street Zen

Key Points

• Thumzup Media was downgraded from a "hold" rating to a "sell" rating by Wall Street Zen, indicating a negative outlook for the company.
• As of last Friday, Thumzup Media shares opened at $6.00 with a significant range over the past year, hitting a high of $16.49 and a low of $2.02.
• CEO Robert A. Steele sold 2.5 million shares at $0.50 each, reducing his ownership stake by over 80%, which raises concerns among investors.

Wall Street Zen lowered shares of Thumzup Media (NASDAQ:TZUP - Free Report) from a hold rating to a sell rating in a report issued on Sunday.

Thumzup Media Trading Up 7.1%

Shares of TZUP stock traded up $0.36 during trading hours on Friday, hitting $5.45. The company's stock had a trading volume of 364,194 shares, compared to its average volume of 1,225,564. The company has a 50 day moving average of $10.09 and a 200 day moving average of $6.93. The stock has a market cap of $88.67 million and a PE ratio of -7.47. Thumzup Media has a 12-month low of $2.02 and a 12-month high of $16.49.

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

Insider Activity at Thumzup Media

In other news, CEO Robert A. Steele sold 2,500,000 shares of the company's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $0.50, for a total value of $1,250,000.00. Following the sale, the chief executive officer directly owned 602,000 shares of the company's stock, valued at $301,000. This represents a 80.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 43.50% of the stock is owned by company insiders.

Institutional Trading of Thumzup Media

Large investors have recently made changes to their positions in the business. Geode Capital Management LLC purchased a new stake in shares of Thumzup Media in the 4th quarter valued at $80,000. Marshall Wace LLP purchased a new stake in shares of Thumzup Media in the 2nd quarter valued at $207,000. Finally, Kestra Private Wealth Services LLC boosted its holdings in Thumzup Media by 195.5% during the first quarter. Kestra Private Wealth Services LLC now owns 39,300 shares of the company's stock worth $159,000 after buying an additional 26,000 shares in the last quarter.

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.