Rumble (NASDAQ:RUM) Stock Rating Upgraded by Zacks Research

Rumble (NASDAQ:RUM) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Tuesday, Zacks reports.

RUM has been the subject of a number of other research reports. Wall Street Zen cut Rumble from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rumble in a research report on Thursday, October 22nd. Finally, Lake Street Capital started coverage on Rumble in a research note on Tuesday, October 6th. They issued a “hold” rating and a $25.00 target price on the stock. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $25.00.

Rumble Stock Performance

Shares of NASDAQ:RUM opened at $5.96 on Tuesday. The company has a market capitalization of $2.96 billion, a price-to-earnings ratio of -10.10 and a beta of 1.35. Rumble has a 12 month low of $4.49 and a 12 month high of $10.60. The firm’s 50-day moving average is $6.93 and its 200 day moving average is $6.67. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.25.

Rumble (NASDAQ:RUM) last announced its quarterly earnings data on Wednesday, November 11th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.08). Rumble had a negative return on equity of 22.77% and a negative net margin of 134.60%. The firm had revenue of $96.58 million during the quarter, compared to the consensus estimate of $89.00 million. During the same period in the previous year, the business earned ($0.06) EPS. The firm’s revenue for the quarter was up 289.5% on a year-over-year basis. Research analysts predict that Rumble will post -0.55 EPS for the current year.

Institutional Trading of Rumble

Several institutional investors and hedge funds have recently made changes to their positions in the company. Cooper Creek Partners Management LLC lifted its stake in Rumble by 54.1% in the first quarter. Cooper Creek Partners Management LLC now owns 5,242,497 shares of the company’s stock worth $26,737,000 after acquiring an additional 1,840,893 shares during the period. Bank of New York Mellon Corp increased its position in Rumble by 0.5% during the 1st quarter. Bank of New York Mellon Corp now owns 322,245 shares of the company’s stock valued at $1,643,000 after purchasing an additional 1,475 shares during the period. Sigma Planning Corp increased its position in Rumble by 2.1% during the 1st quarter. Sigma Planning Corp now owns 162,699 shares of the company’s stock valued at $830,000 after purchasing an additional 3,349 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of Rumble by 21.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 72,661 shares of the company’s stock valued at $549,000 after purchasing an additional 12,989 shares in the last quarter. Finally, Silver Oak Securities Incorporated bought a new stake in shares of Rumble in the 3rd quarter valued at about $341,000. 26.15% of the stock is currently owned by institutional investors.

Rumble News Roundup

Investors following RUM have been watching these news items:

• Positive Sentiment: Third-quarter revenue rose 289.5% year over year and exceeded estimates, providing a strong growth signal. This appeared to be a key driver of investor enthusiasm. Article: RUM Group Just Soared Higher — Here’s Why
• Positive Sentiment: Rumble’s AI infrastructure business, Quake AI, plans to deploy NVIDIA’s Minerva platform to help improve AI-factory operations. The announcement may bolster the company’s AI infrastructure prospects, though it describes a planned deployment. Article: Quake AI Plans to Deploy NVIDIA Minerva
• Negative Sentiment: Rumble reported a third-quarter loss of $0.19 per share, worse than analyst expectations and the $0.06 loss a year earlier, tempering the strong revenue report. Article: Rumble Third-Quarter Earnings

Rumble Company Profile

Rumble Inc. operates a video-sharing platform where users can upload, watch and share videos. The company also offers live-streaming tools and services that help creators publish and monetize content, including through advertising and subscriptions. Founded in 2013 by Chris Pavlovski, Rumble has expanded beyond video distribution into cloud computing. Its Rumble Cloud business provides infrastructure services to organizations seeking alternatives to larger cloud providers. The company serves creators, viewers and business customers in multiple countries, with a substantial presence in North America.