Wedbush Reiterates Neutral Rating for Rumble (NASDAQ:RUM)

Wedbush reiterated their neutral rating on shares of Rumble (NASDAQ:RUM - Free Report) in a report published on Wednesday morning,RTT News reports. Wedbush currently has a $8.00 target price on the stock.

Rumble Price Performance

NASDAQ RUM traded down $0.68 on Wednesday, reaching $6.15. The company had a trading volume of 6,040,153 shares, compared to its average volume of 3,071,347. The business has a 50 day moving average of $5.60 and a two-hundred day moving average of $6.02. Rumble has a fifty-two week low of $3.33 and a fifty-two week high of $9.20. The firm has a market cap of $2.39 billion, a price-to-earnings ratio of -9.76 and a beta of 0.72.

Rumble (NASDAQ:RUM - Get Free Report) last released its 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). The business had revenue of $22.47 million for the quarter, compared to analyst estimates of $19.69 million. Rumble had a negative return on equity of 59.00% and a negative net margin of 152.81%. As a group, research analysts predict that Rumble will post -0.55 earnings per share for the current fiscal year.

Insider Transactions at Rumble

In other Rumble news, Director Robert Arsov sold 30,000 shares of the business's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $5.93, for a total value of $177,900.00. Following the sale, the director now directly owns 12,517,337 shares in the company, valued at $74,227,808.41. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold 195,000 shares of company stock worth $1,086,500 in the last ninety days. Company insiders own 72.90% of the company's stock.

Institutional Trading of Rumble

Institutional investors have recently added to or reduced their stakes in the stock. Empirical Capital Management LLC purchased a new position in Rumble during the first quarter worth about $1,584,000. Virtu Financial LLC purchased a new position in shares of Rumble during the first quarter worth about $339,000. Avantax Advisory Services Inc. purchased a new position in shares of Rumble during the first quarter worth about $335,000. Bayesian Capital Management LP bought a new position in shares of Rumble in the first quarter worth approximately $256,000. Finally, Total Clarity Wealth Management Inc. purchased a new stake in Rumble in the second quarter valued at approximately $161,000. Hedge funds and other 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.