Rumble (NASDAQ:RUM) Trading 4.5% Higher – Should You Buy?

Rumble Inc. (NASDAQ:RUM)’s share price shot up 4.5% during mid-day trading on Tuesday . The company traded as high as $7.44 and last traded at $7.39. 1,506,089 shares were traded during mid-day trading, a decline of 56% from the average session volume of 3,455,900 shares. The stock had previously closed at $7.07.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Wedbush decreased their price objective on shares of Rumble from $13.00 to $10.00 and set a “neutral” rating on the stock in a report on Wednesday, March 26th. Maxim Group began coverage on shares of Rumble in a research note on Wednesday, January 15th. They set a “buy” rating and a $20.00 price target on the stock.

Rumble Stock Down 4.6 %

The company has a market cap of $3.00 billion, a P/E ratio of -12.21 and a beta of 0.56. The business has a 50-day moving average price of $9.90 and a two-hundred day moving average price of $8.56.

Rumble (NASDAQ:RUM) last announced its quarterly earnings data on Tuesday, March 25th. The company reported ($1.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($1.02). Rumble had a negative return on equity of 62.75% and a negative net margin of 152.81%. The firm had revenue of $30.20 million during the quarter, compared to analyst estimates of $29.74 million. The company’s revenue for the quarter was up 48.0% compared to the same quarter last year. As a group, sell-side analysts expect that Rumble Inc. will post -0.62 EPS for the current fiscal year.

Insider Activity at Rumble

In other Rumble news, CEO Christopher Pavlovski sold 354,849 shares of the stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $7.50, for a total value of $2,661,367.50. Following the transaction, the chief executive officer now owns 522,927 shares of the company’s stock, valued at approximately $3,921,952.50. This represents a 40.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Brandon Alexandroff sold 6,828,420 shares of the business’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $7.50, for a total value of $51,213,150.00. Following the transaction, the chief financial officer now owns 64,210 shares of the company’s stock, valued at $481,575. The trade was a 99.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,104,017 shares of company stock worth $308,280,128 over the last ninety days. Company insiders own 70.10% of the company’s stock.

Hedge Funds Weigh In On Rumble

Institutional investors and hedge funds have recently made changes to their positions in the company. IFP Advisors Inc lifted its holdings in Rumble by 70.9% during the fourth quarter. IFP Advisors Inc now owns 2,000 shares of the company’s stock worth $26,000 after acquiring an additional 830 shares in the last quarter. Coppell Advisory Solutions LLC bought a new position in shares of Rumble during the 4th quarter valued at about $35,000. Steward Partners Investment Advisory LLC grew its position in shares of Rumble by 50.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,933 shares of the company’s stock valued at $38,000 after purchasing an additional 980 shares during the period. Measured Risk Portfolios Inc. bought a new stake in Rumble during the 4th quarter worth approximately $65,000. Finally, Virtu Financial LLC bought a new stake in Rumble during the 3rd quarter worth approximately $70,000. Institutional investors and hedge funds 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.