Rumble (NASDAQ:RUM) Stock Price Up 9.2% – What’s Next?

Shares of Rumble Inc. (NASDAQ:RUM) were up 9.2% during mid-day trading on Monday . The stock traded as high as $7.14 and last traded at $7.09. Approximately 1,703,851 shares changed hands during mid-day trading, a decline of 45% from the average daily volume of 3,106,817 shares. The stock had previously closed at $6.49.

Analyst Ratings Changes

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

Rumble Trading Up 12.6 %

The company has a market cap of $2.85 billion, a PE ratio of -11.25 and a beta of 0.72. The business’s 50 day moving average is $5.70 and its two-hundred day moving average is $5.97.

Rumble (NASDAQ:RUM) last issued its quarterly earnings data 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 return on equity of 62.75% and a negative net margin of 152.81%. The firm had revenue of $25.06 million for the quarter, compared to analysts’ expectations of $29.25 million. During the same period last year, the company earned ($0.14) earnings per share. As a group, equities research analysts predict that Rumble Inc. will post -0.62 EPS for the current fiscal year.

Insider Buying and Selling at Rumble

In related 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 completion of the transaction, the director now directly owns 12,659,837 shares of the company’s stock, valued at $64,818,365.44. This trade represents a 0.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 195,000 shares of company stock worth $1,086,500 over the last 90 days. 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 made changes to their positions in RUM. Geode Capital Management LLC raised its stake in shares of Rumble by 14.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,035,718 shares of the company’s stock valued at $5,553,000 after acquiring an additional 130,956 shares during the period. Charles Schwab Investment Management Inc. raised its position in Rumble by 5.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 478,317 shares of the company’s stock valued at $2,564,000 after purchasing an additional 24,879 shares during the last quarter. Empirical Capital Management LLC acquired a new stake in Rumble during the 1st quarter worth $1,584,000. Cambridge Investment Research Advisors Inc. grew its holdings 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 buying an additional 8,824 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in Rumble during the 1st quarter valued at approximately $339,000. Institutional investors and hedge funds 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.