Rumble (NASDAQ:RUM) Now Covered by Analysts at Maxim Group

Research analysts at Maxim Group initiated coverage on shares of Rumble (NASDAQ:RUM - Get Free Report) in a research note issued on Wednesday, MarketBeat reports. The firm set a "buy" rating and a $20.00 price target on the stock. Maxim Group's price target would indicate a potential upside of 83.82% from the company's current price.

Separately, Wedbush restated a "neutral" rating and set a $8.00 price target on shares of Rumble in a research report on Wednesday, November 13th.

Rumble Stock Up 6.6 %

Shares of NASDAQ:RUM traded up $0.67 on Wednesday, hitting $10.88. The company had a trading volume of 3,573,949 shares, compared to its average volume of 4,777,284. The firm's 50-day simple moving average is $8.99 and its two-hundred day simple moving average is $6.93. The firm has a market capitalization of $4.24 billion, a price-to-earnings ratio of -17.27 and a beta of 0.52. Rumble has a 1 year low of $3.37 and a 1 year high of $17.40.

Rumble (NASDAQ:RUM - Get Free Report) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.02). Rumble had a negative return on equity of 62.75% and a negative net margin of 152.81%. The company had revenue of $25.06 million during the quarter, compared to analysts' expectations of $29.25 million. During the same quarter last year, the business earned ($0.14) earnings per share. Equities research analysts anticipate that Rumble will post -0.62 EPS for the current year.

Insider Buying and Selling

In related news, Director Robert Arsov sold 30,000 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $5.93, for a total transaction of $177,900.00. Following the completion of the transaction, the director now owns 12,517,337 shares of the company's stock, valued at $74,227,808.41. This trade represents a 0.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 114,988 shares of company stock valued at $701,617 over the last quarter. Corporate insiders own 72.90% of the company's stock.

Institutional Investors Weigh In On Rumble

Institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp purchased a new position in shares of Rumble in the 2nd quarter worth about $66,000. Arizona State Retirement System bought a new stake in Rumble during the 2nd quarter valued at about $91,000. Cypress Point Wealth Management LLC purchased a new position in Rumble in the third quarter worth about $98,000. RIA Advisory Group LLC bought a new position in shares of Rumble in the third quarter worth approximately $81,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Rumble by 5.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 478,317 shares of the company's stock valued at $2,564,000 after buying an additional 24,879 shares during the last quarter. 26.15% of the stock is owned by hedge funds and other institutional investors.

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.