Rumble (NASDAQ:RUM) Trading Up 3.6% - Should You Buy?

Rumble Inc. (NASDAQ:RUM - Get Free Report)'s stock price shot up 3.6% during mid-day trading on Tuesday . The stock traded as high as $5.91 and last traded at $5.81. 349,807 shares were traded during trading, a decline of 88% from the average session volume of 2,986,153 shares. The stock had previously closed at $5.61.

Wall Street Analyst Weigh In

Separately, Wedbush reissued a "neutral" rating and set a $8.00 target price on shares of Rumble in a research note on Tuesday, August 13th.

Rumble Price Performance

The stock has a market capitalization of $2.27 billion, a P/E ratio of -9.14 and a beta of 0.74. The stock's fifty day moving average is $5.59 and its 200-day moving average is $6.06.

Rumble (NASDAQ:RUM - Get Free Report) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.03). The business had revenue of $22.47 million during the quarter, compared to the consensus estimate of $19.69 million. Rumble had a negative return on equity of 54.31% and a negative net margin of 163.37%. On average, research analysts expect that Rumble Inc. will post -0.55 EPS for the current year.

Insider Buying and Selling at Rumble

In other Rumble news, Director Robert Arsov sold 27,500 shares of the company's stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $5.87, for a total transaction of $161,425.00. Following the completion of the sale, the director now directly owns 14,879,837 shares in the company, valued at $87,344,643.19. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 167,500 shares of company stock worth $936,825 over the last ninety days. Company insiders own 72.90% of the company's stock.

Institutional Investors Weigh In On Rumble

Several hedge funds have recently made changes to their positions in the stock. TCP Asset Management LLC lifted its stake in shares of Rumble by 21.3% in the first quarter. TCP Asset Management LLC now owns 28,520 shares of the company's stock valued at $230,000 after buying an additional 5,000 shares during the period. Redwood Wealth Management Group LLC acquired a new position in Rumble in the second quarter worth about $30,000. Cambridge Investment Research Advisors Inc. raised its position in Rumble by 5.3% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 175,927 shares of the company's stock worth $976,000 after purchasing an additional 8,824 shares in the last quarter. Coppell Advisory Solutions Corp. acquired a new position in Rumble in the first quarter worth about $81,000. Finally, Bank of New York Mellon Corp acquired a new position in Rumble in the second quarter worth about $66,000. Institutional investors own 26.15% of the company's stock.

Rumble Company Profile

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.