Rumble Inc. (NASDAQ:RUM – Get Free Report) saw a large growth in short interest in February. As of February 28th, there was short interest totalling 12,400,000 shares, a growth of 24.6% from the February 13th total of 9,950,000 shares. Based on an average daily volume of 6,410,000 shares, the days-to-cover ratio is currently 1.9 days. Approximately 6.6% of the company’s stock are short sold.
Rumble Trading Down 5.2 %
NASDAQ RUM traded down $0.42 during trading hours on Tuesday, hitting $7.69. The company’s stock had a trading volume of 1,581,166 shares, compared to its average volume of 3,085,658. Rumble has a 52 week low of $4.92 and a 52 week high of $17.38. The company has a market capitalization of $3.00 billion, a PE ratio of -12.21 and a beta of 0.56. The company’s 50-day simple moving average is $10.91 and its two-hundred day simple moving average is $8.39.
Insider Transactions at Rumble
In other news, CTO Wojciech Hlibowicki sold 3,817,165 shares of the stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $7.50, for a total transaction of $28,628,737.50. Following the transaction, the chief technology officer now owns 4,592 shares of the company’s stock, valued at $34,440. This represents a 99.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Claudio Ramolo sold 4,812,646 shares of the stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $7.50, for a total transaction of $36,094,845.00. Following the transaction, the insider now directly owns 14,283 shares in the company, valued at $107,122.50. This trade represents a 99.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,104,017 shares of company stock valued at $308,280,128 in the last 90 days. 70.10% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Rumble
Wall Street Analyst Weigh In
Separately, Maxim Group assumed coverage on shares of Rumble in a research report on Wednesday, January 15th. They issued a “buy” rating and a $20.00 price target on the stock.
Check Out Our Latest Analysis on Rumble
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.
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