Rumble (NASDAQ:RUM) Shares Gap Down - Should You Sell?

Shares of Rumble Inc. (NASDAQ:RUM - Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $13.03, but opened at $12.73. Rumble shares last traded at $14.82, with a volume of 13,299,346 shares changing hands.

Wall Street Analyst Weigh In

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

Rumble Trading Down 2.7 %

The firm has a market cap of $4.94 billion, a PE ratio of -20.13 and a beta of 0.81. The firm has a 50 day moving average price of $6.76 and a 200-day moving average price of $6.12.

Rumble (NASDAQ:RUM - Get Free Report) last issued 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 net margin of 152.81% and a negative return on equity of 62.75%. The firm had revenue of $25.06 million during the quarter, compared to analyst estimates of $29.25 million. During the same period last year, the business earned ($0.14) EPS. Equities analysts forecast that Rumble Inc. will post -0.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Rumble news, Director Robert Arsov sold 27,500 shares of the stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $5.12, for a total value of $140,800.00. Following the transaction, the director now directly owns 12,659,837 shares in the company, valued at $64,818,365.44. This represents a 0.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold 169,988 shares of company stock valued at $986,517 in the last ninety days. Insiders own 72.90% of the company's stock.

Institutional Trading of Rumble

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Rumble by 20.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,962 shares of the company's stock worth $166,000 after buying an additional 5,348 shares during the last quarter. Redwood Wealth Management Group LLC acquired a new stake in shares of Rumble in the second quarter valued at approximately $30,000. Cambridge Investment Research Advisors Inc. grew its position in shares of Rumble by 5.3% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 175,927 shares of the company's stock worth $976,000 after acquiring an additional 8,824 shares during the last quarter. Barclays PLC increased its holdings in shares of Rumble by 663.9% in the 3rd quarter. Barclays PLC now owns 13,559 shares of the company's stock valued at $72,000 after acquiring an additional 11,784 shares during the period. Finally, Bank of New York Mellon Corp purchased a new stake in Rumble in the 2nd quarter valued at $66,000. Institutional investors and hedge funds own 26.15% of the company's stock.

About Rumble

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.