Rumble (NASDAQ:RUM) Trading 5.3% Higher – Here’s Why

Rumble Inc. (NASDAQ:RUM) shot up 5.3% on Thursday . The stock traded as high as $13.67 and last traded at $13.28. Approximately 4,785,241 shares were traded during trading, a decline of 6% from the average session volume of 5,084,666 shares. The stock had previously closed at $12.61.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on RUM shares. Wedbush reissued a “neutral” rating and set a $8.00 price objective on shares of Rumble in a report on Wednesday, November 13th. Maxim Group started coverage on Rumble in a report on Wednesday, January 15th. They set a “buy” rating and a $20.00 price objective on the stock.

Rumble Stock Performance

The company has a market cap of $5.30 billion, a price-to-earnings ratio of -21.60 and a beta of 0.52. The company has a fifty day moving average of $10.02 and a two-hundred day moving average of $7.30.

Rumble (NASDAQ:RUM) last announced its earnings results 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). The company had revenue of $25.06 million for 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 period in the prior year, the business earned ($0.14) earnings per share. Equities analysts expect that Rumble Inc. will post -0.62 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Robert Arsov sold 27,500 shares of Rumble 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 completion of the transaction, the director now directly owns 12,577,337 shares of the company’s stock, valued at approximately $71,565,047.53. This trade represents a 0.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold a total of 114,988 shares of company stock valued at $701,617 in the last three months. Insiders own 70.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in RUM. Bank of New York Mellon Corp bought a new position in shares of Rumble in the 2nd quarter worth about $66,000. Virtu Financial LLC bought a new stake in Rumble in the 3rd quarter valued at about $70,000. Barclays PLC increased its position in 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 buying an additional 11,784 shares in the last quarter. RIA Advisory Group LLC bought a new stake in Rumble in the 3rd quarter valued at about $81,000. Finally, Cypress Point Wealth Management LLC bought a new stake in Rumble in the 3rd quarter valued at about $98,000. 26.15% of the stock is owned by 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.