Rumble (NASDAQ:RUM) Reaches New 12-Month High - Here's Why

Rumble Inc. (NASDAQ:RUM - Get Free Report)'s stock price hit a new 52-week high on Monday . The stock traded as high as $10.31 and last traded at $10.31, with a volume of 2476465 shares changing hands. The stock had previously closed at $7.19.

Wall Street Analyst Weigh In

Separately, Wedbush reissued a "neutral" rating and issued a $8.00 price objective on shares of Rumble in a research note on Wednesday, November 13th.

Rumble Stock Up 81.2 %

The stock has a fifty day simple moving average of $6.61 and a 200 day simple moving average of $6.08. The firm has a market capitalization of $5.08 billion, a P/E ratio of -20.68 and a beta of 0.81.

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

Insider Transactions at Rumble

In other news, Director Robert Arsov sold 29,988 shares of Rumble stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $6.90, for a total value of $206,917.20. Following the sale, the director now directly owns 12,487,349 shares of the company's stock, valued at approximately $86,162,708.10. The trade was a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders have sold 169,988 shares of company stock valued at $986,517. 72.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Rumble

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Redwood Wealth Management Group LLC purchased a new stake in shares of Rumble during the 2nd quarter worth approximately $30,000. Bank of New York Mellon Corp bought a new stake in Rumble in the second quarter worth $66,000. SG Americas Securities LLC purchased a new stake in Rumble during the second quarter valued at $67,000. Virtu Financial LLC bought a new position in Rumble during the third quarter valued at $70,000. Finally, Barclays PLC grew its stake in shares of Rumble by 663.9% in the 3rd quarter. Barclays PLC now owns 13,559 shares of the company's stock worth $72,000 after buying an additional 11,784 shares in the last quarter. 26.15% of the stock is owned by 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.