Rumble (NASDAQ:RUM) Stock Price Up 13.7% – What’s Next?
by Teresa Graham · The Cerbat GemRumble Inc. (NASDAQ:RUM – Get Free Report)’s stock price rose 13.7% during trading on Friday . The company traded as high as $8.33 and last traded at $8.49. Approximately 3,173,616 shares were traded during mid-day trading, an increase of 38% from the average daily volume of 2,296,993 shares. The stock had previously closed at $7.47.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings raised shares of Rumble from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, April 27th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has an average rating of “Sell”.
Check Out Our Latest Analysis on RUM
Rumble Trading Up 11.4%
The business’s 50 day moving average is $5.71 and its 200 day moving average is $6.15. The stock has a market capitalization of $3.62 billion, a PE ratio of -26.00 and a beta of 1.02.
Rumble (NASDAQ:RUM – Get Free Report) last released its quarterly earnings results on Thursday, March 5th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). Rumble had a negative return on equity of 39.76% and a negative net margin of 81.32%.The firm had revenue of $27.07 million for the quarter, compared to analysts’ expectations of $27.09 million. During the same period in the prior year, the firm posted ($1.15) earnings per share. Rumble’s revenue for the quarter was down 10.3% on a year-over-year basis. As a group, analysts anticipate that Rumble Inc. will post -0.32 EPS for the current year.
Hedge Funds Weigh In On Rumble
Large investors have recently made changes to their positions in the company. Meeder Asset Management Inc. bought a new stake in Rumble during the 3rd quarter valued at about $28,000. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Rumble during the fourth quarter worth approximately $47,000. Daiwa Securities Group Inc. increased its position in shares of Rumble by 47.8% during the fourth quarter. Daiwa Securities Group Inc. now owns 9,254 shares of the company’s stock worth $58,000 after acquiring an additional 2,993 shares during the period. VestGen Advisors LLC purchased a new position in shares of Rumble during the fourth quarter worth approximately $64,000. Finally, NewEdge Advisors LLC increased its position in shares of Rumble by 2,905.9% during the fourth quarter. NewEdge Advisors LLC now owns 10,250 shares of the company’s stock worth $65,000 after acquiring an additional 9,909 shares during the period. 26.15% of the stock is owned by hedge funds and other institutional investors.
Rumble Company Profile
Rumble Inc operates a video-sharing platform designed to offer creators and audiences an alternative to traditional social media and streaming services. The company’s primary business activities include hosting, distributing and monetizing user–generated and professional video content. Through its platform, Rumble enables content creators to retain a higher share of advertising revenue and maintain greater control over their intellectual property, while offering viewers open access to a wide range of videos spanning news, sports, entertainment and educational programming.
In addition to its core video platform, Rumble provides cloud–based video hosting and delivery services via Rumble Cloud, a content–delivery network (CDN) designed to support high–volume streaming and storage.