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

Rumble Inc. (NASDAQ:RUM) shares gapped up before the market opened 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 trading hands.

Wall Street Analyst Weigh In

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

Rumble Trading Down 0.6 %

The business has a 50-day moving average price of $8.80 and a 200-day moving average price of $6.86. The firm has a market cap of $4.24 billion, a P/E ratio of -17.29 and a beta of 0.52.

Rumble (NASDAQ:RUM) last posted its 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). Rumble had a negative net margin of 152.81% and a negative return on equity of 62.75%. The business had revenue of $25.06 million for the quarter, compared to analysts’ expectations of $29.25 million. During the same period last year, the business posted ($0.14) EPS. On average, equities analysts anticipate that Rumble Inc. will post -0.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Rumble 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 completion of the sale, the director now 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders sold 114,988 shares of company stock worth $701,617. 72.90% of the stock is owned by corporate insiders.

Institutional Trading of Rumble

Several large investors have recently bought and sold shares of the stock. Geode Capital Management LLC boosted its holdings 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 last quarter. Barclays PLC increased its position in shares of Rumble by 663.9% during the third quarter. Barclays PLC now owns 13,559 shares of the company’s stock worth $72,000 after purchasing an additional 11,784 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Rumble by 5.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 478,317 shares of the company’s stock valued at $2,564,000 after buying an additional 24,879 shares during the last quarter. MML Investors Services LLC acquired a new stake in Rumble in the 3rd quarter valued at about $185,000. Finally, FMR LLC lifted its position in Rumble by 995.3% during the third quarter. FMR LLC now owns 22,387 shares of the company’s stock worth $120,000 after buying an additional 20,343 shares in the last quarter. Hedge funds and other 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.