Rumble (NASDAQ:RUM) Shares Gap Up - Time to Buy?

Rumble Inc. (NASDAQ:RUM - Get Free Report)'s stock price gapped up prior to trading on Monday . The stock had previously closed at $10.96, but opened at $11.32. Rumble shares last traded at $11.20, with a volume of 886,964 shares traded.

Wall Street Analyst Weigh In

RUM has been the subject of several research reports. Maxim Group initiated coverage on Rumble in a research note on Wednesday. They issued a "buy" rating and a $20.00 target price for the company. Wedbush reaffirmed 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 6.6 %

The company has a fifty day moving average price of $8.99 and a 200 day moving average price of $6.93. The stock has a market cap of $4.24 billion, a PE ratio of -17.27 and a beta of 0.52.

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

Insider Activity at Rumble

In related news, Director Robert Arsov sold 27,500 shares of the firm's stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $5.69, for a total value of $156,475.00. Following the sale, the director now directly owns 12,577,337 shares of the company's stock, valued at $71,565,047.53. This trade represents a 0.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 114,988 shares of company stock worth $701,617 in the last three months. 72.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Rumble

Institutional investors and hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp purchased a new position in shares of Rumble during the second quarter valued at approximately $66,000. Virtu Financial LLC purchased a new position in Rumble during the 3rd quarter valued at $70,000. Barclays PLC increased its position in Rumble by 663.9% during the 3rd quarter. Barclays PLC now owns 13,559 shares of the company's stock valued at $72,000 after purchasing an additional 11,784 shares during the period. RIA Advisory Group LLC bought a new position in Rumble in the 3rd quarter worth $81,000. Finally, Arizona State Retirement System purchased a new stake in shares of Rumble in the 2nd quarter worth about $91,000. 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.