Rumble (NASDAQ:RUM) Trading Down 4.5% – What’s Next?

Rumble Inc. (NASDAQ:RUM) shares were down 4.5% on Tuesday . The company traded as low as $10.36 and last traded at $10.43. Approximately 1,516,877 shares changed hands during trading, a decline of 67% from the average daily volume of 4,539,688 shares. The stock had previously closed at $10.92.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Maxim Group began coverage on shares of Rumble in a report on Wednesday. They issued a “buy” rating and a $20.00 target price on the stock. Wedbush reissued a “neutral” rating and set a $8.00 target price on shares of Rumble in a report on Wednesday, November 13th.

Rumble Stock Up 12.6 %

The business’s 50 day simple moving average is $9.09 and its 200-day simple moving average is $6.96. The stock has a market capitalization of $4.77 billion, a price-to-earnings ratio of -19.44 and a beta of 0.52.

Rumble (NASDAQ:RUM) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.15) earnings per share (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 firm had revenue of $25.06 million during the quarter, compared to the consensus estimate of $29.25 million. During the same period last year, the business earned ($0.14) earnings per share. On average, analysts expect that Rumble Inc. will post -0.62 earnings per share for the current year.

Insider Transactions at Rumble

In other Rumble news, Director Robert Arsov sold 29,988 shares of Rumble stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $6.90, for a total value of $206,917.20. Following the transaction, the director now owns 12,487,349 shares in the company, valued at $86,162,708.10. The trade was a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last quarter, insiders sold 114,988 shares of company stock valued at $701,617. Corporate insiders own 72.90% of the company’s stock.

Institutional Investors Weigh In On Rumble

A number of hedge funds have recently made changes to their positions in RUM. Geode Capital Management LLC boosted its holdings in shares of Rumble by 14.5% during 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 in the last quarter. Barclays PLC increased its stake in shares of Rumble by 663.9% in the 3rd quarter. Barclays PLC now owns 13,559 shares of the company’s stock valued at $72,000 after acquiring an additional 11,784 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Rumble by 5.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 478,317 shares of the company’s stock valued at $2,564,000 after acquiring an additional 24,879 shares during the period. MML Investors Services LLC bought a new stake in Rumble in the third quarter valued at $185,000. Finally, FMR LLC raised its holdings in shares of Rumble by 995.3% during the third quarter. FMR LLC now owns 22,387 shares of the company’s stock valued at $120,000 after purchasing an additional 20,343 shares during the period. 26.15% of the stock is currently owned by institutional investors and hedge funds.

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.