Rumble (NASDAQ:RUM) Sees Strong Trading Volume – Still a Buy?

Shares of Rumble Inc. (NASDAQ:RUM) saw strong trading volume on Thursday . Approximately 5,947,730 shares traded hands during mid-day trading, an increase of 63% from the previous session’s volume of 3,647,566 shares.The stock last traded at $14.82 and had previously closed at $12.68.

Wall Street Analysts Forecast Growth

Separately, Wedbush reissued a “neutral” rating and set a $8.00 price target on shares of Rumble in a research report on Wednesday, November 13th.

Rumble Price Performance

The stock has a market cap of $6.61 billion, a PE ratio of -26.95 and a beta of 0.81. The company has a 50 day moving average price of $7.03 and a two-hundred day moving average price of $6.22.

Rumble (NASDAQ:RUM) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.02). The business had revenue of $25.06 million during the quarter, compared to the consensus estimate 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 quarter in the previous year, the business posted ($0.14) earnings per share. As a group, equities analysts predict that Rumble Inc. will post -0.62 earnings per share for the current fiscal year.

Insider Activity at Rumble

In other 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 owns 12,659,837 shares in the company, valued at $64,818,365.44. This represents a 0.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 169,988 shares of company stock worth $986,517 over the last quarter. Company insiders own 72.90% of the company’s stock.

Institutional Trading of Rumble

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RUM. Virtu Financial LLC bought a new stake in Rumble during the third quarter valued at about $70,000. Barclays PLC grew its stake in shares of 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 acquiring an additional 11,784 shares during the period. Geode Capital Management LLC increased its holdings in Rumble by 14.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,035,718 shares of the company’s stock worth $5,553,000 after acquiring an additional 130,956 shares in the last quarter. MML Investors Services LLC bought a new stake in Rumble during the 3rd quarter worth approximately $185,000. Finally, Janus Henderson Group PLC purchased a new position in Rumble during the third quarter valued at approximately $184,000. 26.15% of the stock is owned by hedge funds and other 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.