Rumble (NASDAQ:RUM) Hits New 52-Week High – Should You Buy?

Rumble Inc. (NASDAQ:RUM)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $10.31 and last traded at $10.31, with a volume of 2476465 shares traded. The stock had previously closed at $7.19.

Analyst Ratings Changes

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

Rumble Price Performance

The firm’s 50-day moving average price is $6.61 and its 200-day moving average price is $6.08. The company has a market cap of $5.11 billion, a price-to-earnings ratio of -20.83 and a beta of 0.81.

Rumble (NASDAQ:RUM) last announced its quarterly 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 during the quarter, compared to analyst estimates of $29.25 million. Rumble had a negative net margin of 152.81% and a negative return on equity of 62.75%. During the same quarter in the prior year, the company posted ($0.14) earnings per share. On average, sell-side analysts anticipate that Rumble Inc. will post -0.62 earnings per share for the current year.

Insider Transactions at Rumble

In other news, Director Robert Arsov sold 27,500 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $5.24, for a total transaction of $144,100.00. Following the completion of the transaction, the director now owns 12,714,837 shares of the company’s stock, valued at approximately $66,625,745.88. The trade was a 0.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders have sold 169,988 shares of company stock valued at $986,517. 72.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Rumble

Hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC lifted its position 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 buying an additional 130,956 shares in the last quarter. MML Investors Services LLC bought a new position in shares of Rumble during the 3rd quarter worth about $185,000. Janus Henderson Group PLC acquired a new position in Rumble in the 3rd quarter valued at approximately $184,000. Total Clarity Wealth Management Inc. bought a new position in Rumble in the second quarter worth $161,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Rumble during the 2nd quarter valued at about $142,000. 26.15% of the stock is currently 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.