Rumble Inc. (NASDAQ:RUM - Get Free Report) shares gapped up before the market opened on Wednesday . The stock had previously closed at $5.85, but opened at $6.20. Rumble shares last traded at $6.24, with a volume of 1,622,005 shares changing hands.
Analyst Upgrades and Downgrades
Separately, Wedbush reaffirmed a "neutral" rating and set a $8.00 target price on shares of Rumble in a report on Tuesday, August 13th.
Read Our Latest Research Report on Rumble
Rumble Stock Performance
The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of -9.16 and a beta of 0.74. The firm's 50-day simple moving average is $5.59 and its 200-day simple moving average is $6.06.
Rumble (NASDAQ:RUM - Get Free Report) last issued its quarterly earnings results on Monday, August 12th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.03). Rumble had a negative return on equity of 54.31% and a negative net margin of 163.37%. The business had revenue of $22.47 million for the quarter, compared to analyst estimates of $19.69 million. Equities research analysts forecast that Rumble Inc. will post -0.55 earnings per share for the current year.
Insider Buying and Selling
In other Rumble news, Director Robert Arsov sold 30,000 shares of Rumble stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $6.12, for a total value of $183,600.00. Following the completion of the sale, the director now directly owns 14,937,337 shares of the company's stock, valued at approximately $91,416,502.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold 167,500 shares of company stock valued at $936,825 over the last quarter. 72.90% of the stock is owned by company insiders.
Institutional Trading of Rumble
Hedge funds and other institutional investors have recently bought and sold shares of the company. Redwood Wealth Management Group LLC bought a new stake in shares of Rumble in the second quarter worth about $30,000. Bank of New York Mellon Corp purchased a new position in shares of Rumble in the second quarter worth $66,000. SG Americas Securities LLC purchased a new position in Rumble in the second quarter worth about $67,000. Coppell Advisory Solutions Corp. purchased a new stake in shares of Rumble in the first quarter worth approximately $81,000. Finally, Solano Wealth Management Inc. bought a new stake in Rumble during the 2nd quarter valued at $83,000. Institutional investors own 26.15% of the company's stock.
Rumble Company Profile
(
Get Free Report)
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.
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