Rumble (NASDAQ:RUM) Shares Gap Up – Here’s Why

Rumble Inc. (NASDAQ:RUM)’s stock price gapped up prior to trading 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 changing hands.

Analysts Set New Price Targets

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

Rumble Trading Down 6.5 %

The company has a market capitalization of $3.98 billion, a price-to-earnings ratio of -16.21 and a beta of 0.52. The stock has a 50-day simple moving average of $8.99 and a 200-day simple moving average of $6.93.

Rumble (NASDAQ:RUM) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates 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 net margin of 152.81% and a negative return on equity of 62.75%. During the same quarter last year, the company earned ($0.14) earnings per share. On average, research analysts forecast that Rumble Inc. will post -0.62 EPS for the current year.

Insider Transactions at Rumble

In related news, Director Robert Arsov sold 27,500 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $5.83, for a total transaction of $160,325.00. Following the sale, the director now directly owns 12,604,837 shares of the company’s stock, valued at approximately $73,486,199.71. This represents a 0.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders have sold 114,988 shares of company stock valued at $701,617. Insiders own 72.90% of the company’s stock.

Institutional Trading of Rumble

Several institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp bought a new position in Rumble in the second quarter worth about $66,000. Virtu Financial LLC acquired a new position in Rumble during the 3rd quarter valued at approximately $70,000. Barclays PLC increased its position in Rumble by 663.9% in the third quarter. Barclays PLC now owns 13,559 shares of the company’s stock worth $72,000 after buying an additional 11,784 shares during the period. RIA Advisory Group LLC bought a new stake in Rumble in the third quarter valued at $81,000. Finally, Arizona State Retirement System acquired a new position in shares of Rumble during the second quarter valued at $91,000. Institutional investors 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.