Rumble (NASDAQ:RUM) Given “Neutral” Rating at Wedbush

Wedbush reissued their neutral rating on shares of Rumble (NASDAQ:RUM) in a report published on Wednesday,RTT News reports. The firm currently has a $8.00 target price on the stock. Wedbush also issued estimates for Rumble’s Q4 2024 earnings at ($0.11) EPS, FY2024 earnings at ($0.60) EPS, Q1 2025 earnings at ($0.06) EPS, Q2 2025 earnings at ($0.08) EPS, Q3 2025 earnings at ($0.12) EPS, Q4 2025 earnings at ($0.08) EPS, FY2025 earnings at ($0.33) EPS and FY2026 earnings at ($0.26) EPS.

Rumble Stock Performance

Shares of Rumble stock opened at $5.61 on Wednesday. The company has a market capitalization of $2.18 billion, a P/E ratio of -8.90 and a beta of 0.72. Rumble has a 1 year low of $3.33 and a 1 year high of $9.20. The company’s fifty day moving average is $5.63 and its two-hundred day moving average is $6.01.

Rumble (NASDAQ:RUM) last released its quarterly earnings results 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). The company had revenue of $25.06 million for the quarter, compared to analysts’ expectations of $29.25 million. Rumble had a negative return on equity of 62.75% and a negative net margin of 152.81%. During the same period in the prior year, the business earned ($0.14) EPS. As a group, equities analysts expect that Rumble will post -0.55 earnings per share for the current year.

Insider Activity at Rumble

In related news, Director Robert Arsov sold 27,500 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $5.59, for a total value of $153,725.00. Following the completion of the sale, the director now owns 14,769,837 shares in the company, valued at $82,563,388.83. This trade represents a 0.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 195,000 shares of company stock worth $1,086,500 in the last three months. Insiders own 72.90% of the company’s stock.

Hedge Funds Weigh In On Rumble

A number of large investors have recently modified their holdings of the business. Redwood Wealth Management Group LLC acquired a new position in Rumble during the second quarter worth $30,000. Bank of New York Mellon Corp acquired a new position in shares of Rumble during the 2nd quarter worth $66,000. SG Americas Securities LLC acquired a new stake in shares of Rumble in the second quarter valued at about $67,000. Barclays PLC boosted its holdings in Rumble by 663.9% during the third quarter. Barclays PLC now owns 13,559 shares of the company’s stock worth $72,000 after buying an additional 11,784 shares in the last quarter. Finally, Coppell Advisory Solutions Corp. acquired a new position in Rumble during the first quarter worth about $81,000. 26.15% of the stock is owned by hedge funds and other institutional investors.

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.