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

Rumble (NASDAQ:RUM) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

Rumble Stock Performance

NASDAQ:RUM opened at $7.90 on Friday. The firm’s fifty day moving average is $8.87 and its 200-day moving average is $8.96. Rumble has a 52 week low of $4.92 and a 52 week high of $17.40. The firm has a market cap of $3.43 billion, a P/E ratio of -5.52 and a beta of 0.72.

Rumble (NASDAQ:RUM) last released its earnings results on Sunday, August 10th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.06). Rumble had a negative net margin of 289.37% and a negative return on equity of 97.99%. The company had revenue of $25.09 million for the quarter, compared to analyst estimates of $26.78 million. The company’s revenue was up 11.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Rumble will post -0.62 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Brevan Howard Capital Management LP acquired a new position in shares of Rumble during the 2nd quarter valued at $186,000. Bank of America Corp DE lifted its position in shares of Rumble by 0.4% during the 2nd quarter. Bank of America Corp DE now owns 637,500 shares of the company’s stock valued at $5,725,000 after acquiring an additional 2,678 shares during the period. California State Teachers Retirement System lifted its position in shares of Rumble by 9.7% during the 2nd quarter. California State Teachers Retirement System now owns 55,586 shares of the company’s stock valued at $499,000 after acquiring an additional 4,916 shares during the period. Canada Pension Plan Investment Board acquired a new position in Rumble during the second quarter worth $75,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Rumble by 305.5% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 142,715 shares of the company’s stock valued at $1,282,000 after buying an additional 107,521 shares in the last quarter. Institutional investors and hedge funds 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.