Rumble (NASDAQ:RUM) Shares Gap Down – Time to Sell?

Rumble Inc. (NASDAQ:RUM) shares gapped down prior to trading on Wednesday . The stock had previously closed at $6.83, but opened at $6.05. Rumble shares last traded at $5.99, with a volume of 445,734 shares.

Analyst Ratings Changes

Separately, Wedbush reaffirmed a “neutral” rating and set a $8.00 target price on shares of Rumble in a report on Wednesday.

Rumble Stock Down 14.6 %

The business has a 50 day moving average price of $5.60 and a two-hundred day moving average price of $6.02.

Rumble (NASDAQ:RUM) last announced 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 152.81% and a negative return on equity of 59.00%. The company had revenue of $22.47 million during the quarter, compared to the consensus estimate of $19.69 million. On average, analysts expect that Rumble Inc. will post -0.55 earnings per share for the current year.

Insider Activity at Rumble

In other Rumble news, Director Robert Arsov sold 27,500 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $5.59, for a total value of $153,725.00. Following the sale, the director now owns 14,769,837 shares of the company’s stock, valued at $82,563,388.83. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 195,000 shares of company stock worth $1,086,500 in the last three months. 72.90% of the stock is owned by insiders.

Institutional Trading of Rumble

Large investors have recently modified their holdings of the business. Avantax Advisory Services Inc. purchased a new stake in Rumble in the 1st quarter worth approximately $335,000. Virtu Financial LLC bought a new stake in Rumble in the first quarter valued at $339,000. Bank of New York Mellon Corp purchased a new position in Rumble during the 2nd quarter valued at $66,000. SG Americas Securities LLC bought a new position in Rumble in the 2nd quarter worth $67,000. Finally, Janney Montgomery Scott LLC lifted its position in shares of Rumble by 34.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 106,699 shares of the company’s stock worth $862,000 after purchasing an additional 27,289 shares during the period. 26.15% of the stock is owned by 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.