Rumble (NASDAQ:RUM) Shares Gap Up – Time to Buy?

by · The Cerbat Gem

Rumble Inc. (NASDAQ:RUM – Get Free Report)’s share price gapped up prior to trading on Monday . The stock had previously closed at $5.89, but opened at $6.56. Rumble shares last traded at $6.5910, with a volume of 5,231,087 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Rumble in a research report on Wednesday, October 8th. Wall Street Zen lowered shares of Rumble from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $14.00.

View Our Latest Analysis on RUM

Rumble Stock Up 8.7%

The firm has a market capitalization of $2.78 billion, a price-to-earnings ratio of -4.50 and a beta of 0.69. The company has a fifty day moving average price of $7.29 and a two-hundred day moving average price of $8.24.

Rumble (NASDAQ:RUM – Get Free Report) last released its quarterly earnings results on Sunday, August 10th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.06). Rumble had a negative net margin of 289.37% and a negative return on equity of 97.99%. The business had revenue of $25.09 million during the quarter, compared to analysts’ expectations of $26.78 million. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. On average, equities analysts anticipate that Rumble Inc. will post -0.62 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rumble

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Rumble by 20.2% in the first quarter. Vanguard Group Inc. now owns 9,585,466 shares of the company’s stock valued at $67,769,000 after buying an additional 1,612,891 shares during the last quarter. Geode Capital Management LLC raised its holdings in Rumble by 57.3% in the 2nd quarter. Geode Capital Management LLC now owns 2,373,070 shares of the company’s stock valued at $21,313,000 after acquiring an additional 864,677 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Rumble by 41.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 698,074 shares of the company’s stock worth $4,935,000 after purchasing an additional 205,281 shares during the period. Bank of America Corp DE grew its position in shares of Rumble by 0.4% in the second quarter. Bank of America Corp DE now owns 637,500 shares of the company’s stock valued at $5,725,000 after purchasing an additional 2,678 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new position in Rumble in the first quarter valued at $2,379,000. Institutional investors and hedge funds own 26.15% of the company’s stock.

About Rumble

(Get Free Report)

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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