Rumble’s (RUM) Neutral Rating Reiterated at Wedbush

Wedbush reissued their neutral rating on shares of Rumble (NASDAQ:RUM) in a report released on Wednesday morning,RTT News reports. They currently have a $8.00 target price on the stock. Wedbush also issued estimates for Rumble’s Q4 2024 earnings at ($0.11) EPS, FY2024 earnings at ($0.60) EPS, Q1 2025 earnings at ($0.06) EPS, Q2 2025 earnings at ($0.08) EPS, Q3 2025 earnings at ($0.12) EPS, Q4 2025 earnings at ($0.08) EPS, FY2025 earnings at ($0.33) EPS and FY2026 earnings at ($0.26) EPS.

Rumble Stock Performance

Shares of NASDAQ RUM opened at $5.61 on Wednesday. The stock has a market cap of $2.18 billion, a P/E ratio of -8.90 and a beta of 0.72. The firm has a 50 day moving average price of $5.63 and a 200 day moving average price of $6.01. Rumble has a 52-week low of $3.33 and a 52-week high of $9.20.

Insider Activity

In other news, Director Robert Arsov sold 30,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $5.93, for a total value of $177,900.00. Following the sale, the director now owns 12,517,337 shares of the company’s stock, valued at $74,227,808.41. The trade was a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold 195,000 shares of company stock worth $1,086,500 over the last quarter. 72.90% of the stock is currently owned by company insiders.

Institutional Trading of Rumble

A number of institutional investors have recently made changes to their positions in RUM. Redwood Wealth Management Group LLC bought a new stake in Rumble during the second quarter worth $30,000. Bank of New York Mellon Corp bought a new stake in Rumble during the second quarter worth $66,000. SG Americas Securities LLC bought a new stake in Rumble during the second quarter worth $67,000. Barclays PLC raised its position in Rumble by 663.9% during the third quarter. Barclays PLC now owns 13,559 shares of the company’s stock worth $72,000 after acquiring an additional 11,784 shares in the last quarter. Finally, Coppell Advisory Solutions Corp. bought a new stake in Rumble during the first quarter worth $81,000. 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.