Rumble (NASDAQ:RUM) Shares Gap Up – Should You Buy?

Rumble Inc. (NASDAQ:RUM) gapped up prior to trading on Friday . The stock had previously closed at $16.27, but opened at $17.20. Rumble shares last traded at $15.48, with a volume of 4,764,443 shares.

Analyst Ratings Changes

Separately, Wedbush restated a “neutral” rating and issued a $8.00 price target on shares of Rumble in a research note on Wednesday, November 13th.

Rumble Trading Down 6.4 %

The stock has a market capitalization of $5.93 billion, a PE ratio of -24.17 and a beta of 0.81. The business’s 50 day moving average is $7.44 and its 200 day moving average is $6.36.

Rumble (NASDAQ:RUM) last announced its earnings results on Tuesday, November 12th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $25.06 million for the quarter, compared to analysts’ expectations of $29.25 million. During the same quarter last year, the firm earned ($0.14) EPS. As a group, analysts anticipate that Rumble Inc. will post -0.62 EPS for the current year.

Insider Transactions at Rumble

In other news, Director Robert Arsov sold 29,988 shares of Rumble stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $6.90, for a total transaction of $206,917.20. Following the completion of the sale, the director now owns 12,487,349 shares of the company’s stock, valued at approximately $86,162,708.10. The trade was a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last ninety days, insiders have sold 169,988 shares of company stock worth $986,517. Insiders own 72.90% of the company’s stock.

Institutional Trading of Rumble

Hedge funds have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Rumble by 20.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,962 shares of the company’s stock valued at $166,000 after purchasing an additional 5,348 shares during the period. Redwood Wealth Management Group LLC bought a new position in Rumble in the second quarter worth approximately $30,000. Cambridge Investment Research Advisors Inc. lifted its holdings 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 buying an additional 8,824 shares during the period. Barclays PLC boosted its position in Rumble by 663.9% during the 3rd quarter. Barclays PLC now owns 13,559 shares of the company’s stock valued at $72,000 after acquiring an additional 11,784 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in shares of Rumble in the 2nd quarter valued at $66,000. 26.15% of the stock is owned by hedge funds and other institutional investors.

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.