Rumble (NASDAQ:RUM) Trading 10.5% Higher – Should You Buy?
by Doug Wharley · The Cerbat GemRumble Inc. (NASDAQ:RUM – Get Free Report)’s share price was up 10.5% on Thursday . The stock traded as high as $8.15 and last traded at $8.1410. Approximately 1,346,152 shares traded hands during mid-day trading, a decline of 44% from the average daily volume of 2,391,413 shares. The stock had previously closed at $7.37.
Analysts Set New Price Targets
A number of research analysts recently issued reports on RUM shares. Weiss Ratings upgraded Rumble from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, April 27th. Wall Street Zen upgraded Rumble from a “strong sell” rating to a “hold” rating in a research note on Saturday, May 16th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.
Get Our Latest Stock Report on Rumble
Rumble Price Performance
The business’s 50 day simple moving average is $6.13 and its 200 day simple moving average is $6.19. The company has a market capitalization of $3.51 billion, a price-to-earnings ratio of -18.78 and a beta of 1.02.
Rumble (NASDAQ:RUM – Get Free Report) last announced its earnings results on Thursday, March 5th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.02). Rumble had a negative return on equity of 42.47% and a negative net margin of 106.91%.The business had revenue of $27.07 million for the quarter, compared to analyst estimates of $27.09 million. During the same quarter last year, the company posted ($1.15) EPS. Rumble’s quarterly revenue was down 10.3% on a year-over-year basis. As a group, analysts expect that Rumble Inc. will post -0.32 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Cantor Fitzgerald L. P. raised its stake in shares of Rumble by 26.5% during the fourth quarter. Cantor Fitzgerald L. P. now owns 9,326,205 shares of the company’s stock worth $58,942,000 after purchasing an additional 1,951,768 shares during the last quarter. Vanguard Group Inc. increased its stake in Rumble by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 8,934,542 shares of the company’s stock valued at $64,686,000 after buying an additional 122,788 shares during the period. Cooper Creek Partners Management LLC increased its stake in Rumble by 54.1% in the 1st quarter. Cooper Creek Partners Management LLC now owns 5,242,497 shares of the company’s stock valued at $26,737,000 after buying an additional 1,840,893 shares during the period. Geode Capital Management LLC raised its position in Rumble by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 2,821,230 shares of the company’s stock worth $17,834,000 after buying an additional 78,303 shares during the last quarter. Finally, UBS Group AG raised its position in Rumble by 4.6% during the 3rd quarter. UBS Group AG now owns 1,064,072 shares of the company’s stock worth $7,704,000 after buying an additional 46,925 shares during the last quarter. 26.15% of the stock is currently 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.