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 note issued to investors on Saturday.

Rumble Stock Down 2.0%

Shares of NASDAQ:RUM opened at $7.90 on Friday. The firm has a market capitalization of $3.43 billion, a PE ratio of -5.52 and a beta of 0.72. Rumble has a twelve month low of $4.92 and a twelve month high of $17.40. The company has a 50-day moving average price of $8.87 and a two-hundred day moving average price of $8.96.

Rumble (NASDAQ:RUM) last issued its earnings results on Sunday, August 10th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates 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 return on equity of 97.99% and a negative net margin of 289.37%. The company’s revenue was up 11.6% compared to the same quarter last year. Analysts anticipate that Rumble will post -0.62 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rumble

A number of large investors have recently modified their holdings of RUM. Vanguard Group Inc. boosted its position in shares of Rumble by 20.2% in the first quarter. Vanguard Group Inc. now owns 9,585,466 shares of the company’s stock valued at $67,769,000 after acquiring an additional 1,612,891 shares during the period. D. E. Shaw & Co. Inc. lifted its position in Rumble by 9,234.4% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,351,803 shares of the company’s stock valued at $17,587,000 after purchasing an additional 1,337,321 shares during the last quarter. Geode Capital Management LLC lifted its position in Rumble by 57.3% during the second quarter. Geode Capital Management LLC now owns 2,373,070 shares of the company’s stock valued at $21,313,000 after purchasing an additional 864,677 shares during the last quarter. Millennium Management LLC lifted its position in Rumble by 287.7% during the fourth quarter. Millennium Management LLC now owns 781,747 shares of the company’s stock valued at $10,171,000 after purchasing an additional 580,105 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in Rumble during the first quarter valued at approximately $2,379,000. 26.15% of the stock is currently owned by institutional investors.

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.