Rumble Inc. (NASDAQ:RUM – Get Free Report)’s share price rose 3.6% during trading on Tuesday . The company traded as high as $5.91 and last traded at $5.81. Approximately 349,807 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 2,986,153 shares. The stock had previously closed at $5.61.
Analyst Ratings Changes
Separately, Wedbush reiterated a “neutral” rating and issued a $8.00 target price on shares of Rumble in a report on Tuesday, August 13th.
Check Out Our Latest Stock Analysis on Rumble
Rumble Stock Down 4.3 %
Rumble (NASDAQ:RUM – Get Free Report) last issued its quarterly earnings results on Monday, August 12th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.03). The business had revenue of $22.47 million for the quarter, compared to analyst estimates of $19.69 million. Rumble had a negative return on equity of 54.31% and a negative net margin of 163.37%. Equities research analysts anticipate that Rumble Inc. will post -0.55 EPS for the current year.
Insiders Place Their Bets
In other Rumble news, Director Robert Arsov sold 30,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $6.12, for a total transaction of $183,600.00. Following the transaction, the director now directly owns 14,937,337 shares in the company, valued at approximately $91,416,502.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders sold 167,500 shares of company stock worth $936,825. 72.90% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Rumble
Several institutional investors have recently made changes to their positions in RUM. Empirical Capital Management LLC bought a new stake in Rumble in the 1st quarter valued at about $1,584,000. Virtu Financial LLC acquired a new position in shares of Rumble during the first quarter valued at about $339,000. Avantax Advisory Services Inc. bought a new stake in shares of Rumble during the first quarter worth about $335,000. Bayesian Capital Management LP acquired a new stake in shares of Rumble in the 1st quarter worth about $256,000. Finally, Total Clarity Wealth Management Inc. acquired a new stake in shares of Rumble in the 2nd quarter worth about $161,000. 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.
Featured Articles
- Five stocks we like better than Rumble
- Canadian Penny Stocks: Can They Make You Rich?
- WD-40 Company Gears Up for a Double-Digit Stock Advance
- 3 Warren Buffett Stocks to Buy Now
- Monster and Celsius Energized: Which Stock Offers More Upside?
- How to Calculate Stock Profit
- Sherwin-Williams Plunges Into Buying Opportunity: Time to Buy?
Receive News & Ratings for Rumble Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rumble and related companies with MarketBeat.com's FREE daily email newsletter.