Rumble (NASDAQ:RUM) Trading 8% Higher – Should You Buy?

Rumble Inc. (NASDAQ:RUM) rose 8% during trading on Friday . The company traded as high as $12.85 and last traded at $13.09. Approximately 1,050,506 shares changed hands during trading, a decline of 77% from the average daily volume of 4,573,815 shares. The stock had previously closed at $12.12.

Analyst Ratings Changes

Several brokerages have issued reports on RUM. Wedbush reiterated a “neutral” rating and issued a $8.00 price objective on shares of Rumble in a research report on Wednesday, November 13th. Maxim Group initiated coverage on Rumble in a report on Wednesday, January 15th. They issued a “buy” rating and a $20.00 price target for the company.

Rumble Price Performance

The firm has a market capitalization of $4.76 billion, a P/E ratio of -19.47 and a beta of 0.52. The company’s 50 day moving average price is $10.53 and its 200 day moving average price is $7.49.

Rumble (NASDAQ:RUM) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). Rumble had a negative net margin of 152.81% and a negative return on equity of 62.75%. The firm had revenue of $25.06 million during the quarter, compared to the consensus estimate of $29.25 million. During the same quarter in the previous year, the business posted ($0.14) earnings per share. On average, research analysts anticipate that Rumble Inc. will post -0.62 EPS for the current fiscal year.

Insiders Place Their Bets

In other Rumble news, Director Robert Arsov sold 27,500 shares of Rumble stock in a transaction on Monday, November 4th. The shares were sold at an average price of $5.69, for a total transaction of $156,475.00. Following the completion of the sale, the director now owns 12,577,337 shares of the company’s stock, valued at approximately $71,565,047.53. The trade was a 0.22 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders sold 87,488 shares of company stock valued at $541,292. 70.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Virtu Financial LLC acquired a new stake in Rumble in the third quarter worth $70,000. Barclays PLC raised its stake in Rumble by 663.9% during the 3rd quarter. Barclays PLC now owns 13,559 shares of the company’s stock worth $72,000 after buying an additional 11,784 shares during the period. RIA Advisory Group LLC bought a new position in Rumble during the third quarter worth about $81,000. Cypress Point Wealth Management LLC acquired a new position in Rumble in the third quarter valued at about $98,000. Finally, FMR LLC increased its holdings in shares of Rumble by 995.3% in the third quarter. FMR LLC now owns 22,387 shares of the company’s stock worth $120,000 after acquiring an additional 20,343 shares in the last quarter. Institutional investors own 26.15% of the company’s stock.

About Rumble

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.