Thumzup Media (NASDAQ:TZUP) Posts Quarterly Earnings Results

Thumzup Media (NASDAQ:TZUP) issued its earnings results on Friday. The company reported ($0.77) EPS for the quarter, Zacks reports.

Thumzup Media Stock Down 2.7%

Shares of Thumzup Media stock traded down $0.10 during trading on Friday, reaching $3.64. 86,797 shares of the stock were exchanged, compared to its average volume of 344,811. The firm has a market cap of $60.21 million and a price-to-earnings ratio of -4.99. Thumzup Media has a 1 year low of $2.02 and a 1 year high of $16.49. The stock’s fifty day moving average is $4.84 and its 200 day moving average is $7.35.

Institutional Investors Weigh In On Thumzup Media

Large investors have recently made changes to their positions in the business. Marshall Wace LLP purchased a new position in shares of Thumzup Media during the second quarter valued at approximately $207,000. Geode Capital Management LLC boosted its holdings in Thumzup Media by 27.4% in the second quarter. Geode Capital Management LLC now owns 43,596 shares of the company’s stock valued at $306,000 after acquiring an additional 9,371 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Thumzup Media by 401.3% in the third quarter. Vanguard Group Inc. now owns 283,270 shares of the company’s stock valued at $1,416,000 after acquiring an additional 226,767 shares in the last quarter.

Thumzup Media declared that its Board of Directors has approved a stock repurchase plan on Wednesday, September 24th that permits the company to buyback $10.00 million in shares. This buyback authorization permits the company to purchase up to 13.5% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research analysts have recently commented on TZUP shares. Wall Street Zen downgraded Thumzup Media from a “hold” rating to a “sell” rating in a report on Sunday, August 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Thumzup Media in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Thumzup Media has an average rating of “Sell”.

Thumzup Media Company Profile

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.