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

by · The Markets Daily

Rumble Inc. (NASDAQ:RUM – Get Free Report)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $5.47, but opened at $5.70. Rumble shares last traded at $6.13, with a volume of 1,772,927 shares traded.

Wall Street Analyst Weigh In

Separately, Wedbush reaffirmed a “neutral” rating and set a $8.00 target price on shares of Rumble in a research report on Tuesday, August 13th.

View Our Latest Stock Analysis on RUM

Rumble Stock Down 1.3 %

The company has a market capitalization of $2.28 billion, a P/E ratio of -9.19 and a beta of 0.74. The firm has a 50-day moving average price of $5.60 and a two-hundred day moving average price of $6.10.

Rumble (NASDAQ:RUM – Get Free Report) last posted its quarterly earnings data on Monday, August 12th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.03). Rumble had a negative net margin of 163.37% and a negative return on equity of 54.31%. The business had revenue of $22.47 million during the quarter, compared to the consensus estimate of $19.69 million. On average, analysts predict that Rumble Inc. will post -0.55 EPS for the current fiscal year.

Insider Activity at Rumble

In related news, Director Robert Arsov sold 27,500 shares of the company’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $5.12, for a total value of $140,800.00. Following the completion of the transaction, the director now directly owns 12,659,837 shares in the company, valued at approximately $64,818,365.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last ninety days, insiders sold 167,500 shares of company stock worth $936,825. 72.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. TCP Asset Management LLC raised its stake in Rumble by 21.3% during the first quarter. TCP Asset Management LLC now owns 28,520 shares of the company’s stock worth $230,000 after acquiring an additional 5,000 shares in the last quarter. Redwood Wealth Management Group LLC acquired a new position in Rumble during the second quarter worth $30,000. Cambridge Investment Research Advisors Inc. raised its stake in Rumble by 5.3% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 175,927 shares of the company’s stock worth $976,000 after acquiring an additional 8,824 shares in the last quarter. Coppell Advisory Solutions Corp. acquired a new position in Rumble during the first quarter worth $81,000. Finally, LexAurum Advisors LLC acquired a new position in Rumble during the first quarter worth $81,000. 26.15% of the stock is currently owned by institutional investors and hedge funds.

Rumble Company Profile

(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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