Rumble Inc. (NASDAQ:RUM - Get Free Report) rose 7% during mid-day trading on Monday . The stock traded as high as $6.29 and last traded at $6.08. Approximately 972,728 shares changed hands during trading, a decline of 68% from the average daily volume of 3,001,767 shares. The stock had previously closed at $5.68.
Analyst Ratings Changes
Separately, Wedbush reaffirmed a "neutral" rating and issued a $8.00 price objective on shares of Rumble in a research note on Tuesday, August 13th.
View Our Latest Research Report on Rumble
Rumble Stock Performance
The company has a market capitalization of $2.51 billion, a PE ratio of -10.02 and a beta of 0.74. The firm has a fifty day simple moving average of $5.55 and a 200-day simple moving average of $6.03.
Rumble (NASDAQ:RUM - Get Free Report) last issued its earnings results 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 company had revenue of $22.47 million during the quarter, compared to analyst estimates of $19.69 million. Rumble had a negative net margin of 163.37% and a negative return on equity of 54.31%. As a group, research analysts anticipate that Rumble Inc. will post -0.55 EPS for the current fiscal year.
Insider Activity at Rumble
In other news, Director Robert Arsov sold 27,500 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $5.87, for a total transaction of $161,425.00. Following the sale, the director now directly owns 14,879,837 shares in the company, valued at approximately $87,344,643.19. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 167,500 shares of company stock valued at $936,825 in the last quarter. Insiders own 72.90% of the company's stock.
Hedge Funds Weigh In On Rumble
Hedge funds and other institutional investors have recently made changes to their positions in the business. Redwood Wealth Management Group LLC acquired a new stake in Rumble in the second quarter worth about $30,000. Bank of New York Mellon Corp acquired a new position in shares of Rumble during the second quarter valued at approximately $66,000. SG Americas Securities LLC bought a new stake in Rumble during the second quarter worth approximately $67,000. Coppell Advisory Solutions Corp. acquired a new stake in Rumble in the first quarter worth approximately $81,000. Finally, Solano Wealth Management Inc. bought a new position in Rumble during the 2nd quarter valued at $83,000. 26.15% of the stock is currently owned by institutional investors and hedge funds.
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.
Featured Articles
Before you consider Rumble, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Rumble wasn't on the list.
While Rumble currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Market downturns give many investors pause, and for good reason. Wondering how to offset this risk? Click the link below to learn more about using beta to protect yourself.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
