Maxim Group Begins Coverage on Rumble (NASDAQ:RUM)

Investment analysts at Maxim Group initiated coverage on shares of Rumble (NASDAQ:RUM - Get Free Report) in a research note issued on Wednesday, Marketbeat.com reports. The brokerage set a "buy" rating and a $20.00 price target on the stock. Maxim Group's target price would suggest a potential upside of 63.27% from the company's previous close.

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

Rumble Stock Performance

NASDAQ RUM traded up $1.37 during trading on Wednesday, reaching $12.25. 7,465,023 shares of the company's stock were exchanged, compared to its average volume of 4,975,955. Rumble has a 1 year low of $3.37 and a 1 year high of $17.40. The stock has a market cap of $4.77 billion, a P/E ratio of -19.44 and a beta of 0.52. The company has a 50 day moving average price of $8.99 and a two-hundred day moving average price of $6.93.

Rumble (NASDAQ:RUM - Get Free Report) last posted its earnings results on Tuesday, November 12th. The company reported ($0.15) earnings per share 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 business had revenue of $25.06 million for the quarter, compared to analysts' expectations of $29.25 million. During the same quarter in the previous year, the firm earned ($0.14) EPS. Research analysts forecast that Rumble will post -0.62 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Robert Arsov sold 29,988 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $6.90, for a total value of $206,917.20. Following the completion of the sale, the director now directly owns 12,487,349 shares of the company's stock, valued at approximately $86,162,708.10. This represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 114,988 shares of company stock worth $701,617 in the last quarter. 72.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Rumble

Institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp acquired a new stake in Rumble during the 2nd quarter worth $66,000. Virtu Financial LLC purchased a new stake in shares of Rumble in the third quarter valued at about $70,000. Barclays PLC boosted its stake in shares of Rumble by 663.9% during the third quarter. Barclays PLC now owns 13,559 shares of the company's stock worth $72,000 after buying an additional 11,784 shares during the period. RIA Advisory Group LLC purchased a new position in shares of Rumble during the third quarter worth about $81,000. Finally, Arizona State Retirement System acquired a new position in Rumble in the 2nd quarter valued at about $91,000. 26.15% of the stock is owned by institutional investors and hedge funds.

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.