Rumble (NASDAQ:RUM) Stock Price Down 6.1% - Time to Sell?

Rumble Inc. (NASDAQ:RUM - Get Free Report)'s stock price was down 6.1% during mid-day trading on Tuesday . The company traded as low as $8.06 and last traded at $8.11. Approximately 1,121,637 shares were traded during trading, a decline of 65% from the average daily volume of 3,165,906 shares. The stock had previously closed at $8.64.

Analyst Upgrades and Downgrades

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

Rumble Stock Performance

The business's fifty day simple moving average is $6.49 and its 200 day simple moving average is $6.05. The stock has a market cap of $3.15 billion, a price-to-earnings ratio of -12.84 and a beta of 0.81.

Rumble (NASDAQ:RUM - Get Free Report) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 company had revenue of $25.06 million during the quarter, compared to the consensus estimate of $29.25 million. During the same quarter last year, the firm posted ($0.14) EPS. As a group, analysts forecast that Rumble Inc. will post -0.62 EPS for the current fiscal year.

Insider Buying and Selling

In other Rumble news, Director Robert Arsov sold 30,000 shares of the firm's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $5.93, for a total transaction of $177,900.00. Following the transaction, the director now owns 12,517,337 shares of the company's stock, valued at approximately $74,227,808.41. This trade represents a 0.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 169,988 shares of company stock valued at $986,517 in the last quarter. Company insiders own 72.90% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC boosted its holdings in shares of Rumble by 14.5% during the third quarter. Geode Capital Management LLC now owns 1,035,718 shares of the company's stock worth $5,553,000 after purchasing an additional 130,956 shares during the period. MML Investors Services LLC acquired a new position in shares of Rumble in the third quarter worth $185,000. Janus Henderson Group PLC purchased a new stake in shares of Rumble during the third quarter worth $184,000. Total Clarity Wealth Management Inc. acquired a new stake in Rumble during the second quarter valued at $161,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Rumble in the second quarter valued at about $142,000. Institutional investors 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.