Rumble (NASDAQ:RUM) Shares Down 5% – Should You Sell?

Shares of Rumble Inc. (NASDAQ:RUM) fell 5% on Wednesday . The stock traded as low as $6.06 and last traded at $6.13. 1,185,312 shares changed hands during trading, a decline of 61% from the average session volume of 3,032,362 shares. The stock had previously closed at $6.45.

Analysts Set New Price Targets

Separately, Wedbush restated a “neutral” rating and issued a $8.00 price objective on shares of Rumble in a research note on Tuesday, August 13th.

Rumble Price Performance

The firm has a market capitalization of $2.33 billion, a PE ratio of -9.33 and a beta of 0.74. The business’s 50-day moving average price is $5.56 and its 200-day moving average price is $6.03.

Rumble (NASDAQ:RUM) last released its earnings results on Monday, August 12th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.03). The firm had revenue of $22.47 million during the quarter, compared to analysts’ expectations of $19.69 million. Rumble had a negative net margin of 163.37% and a negative return on equity of 54.31%. Equities analysts forecast that Rumble Inc. will post -0.55 earnings per share for the current year.

Insider Activity at Rumble

In other Rumble news, Director Robert Arsov sold 30,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $6.12, for a total value of $183,600.00. Following the sale, the director now directly owns 14,937,337 shares of the company’s stock, valued at approximately $91,416,502.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders sold 167,500 shares of company stock worth $936,825. 72.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RUM. Avantax Advisory Services Inc. purchased a new position in Rumble in the first quarter valued at approximately $335,000. Virtu Financial LLC acquired a new position in shares of Rumble during the 1st quarter valued at $339,000. SpiderRock Advisors LLC acquired a new position in shares of Rumble during the 1st quarter valued at $198,000. Bank of New York Mellon Corp purchased a new stake in Rumble during the 2nd quarter worth $66,000. Finally, SG Americas Securities LLC acquired a new stake in Rumble in the 2nd quarter valued at $67,000. 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.