Rumble (NASDAQ:RUM) Shares Gap Up – What’s Next?

Rumble Inc. (NASDAQ:RUM)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $5.68, but opened at $5.98. Rumble shares last traded at $6.16, with a volume of 2,390,309 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Wedbush reissued a “neutral” rating and set a $8.00 price objective on shares of Rumble in a report on Wednesday, November 13th.

Rumble Price Performance

The company has a market cap of $2.50 billion, a PE ratio of -10.19 and a beta of 0.72. The firm’s 50 day moving average is $5.68 and its 200 day moving average is $5.98.

Rumble (NASDAQ:RUM) last posted its earnings results on Tuesday, November 12th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.02). The business had revenue of $25.06 million for the quarter, compared to analysts’ expectations of $29.25 million. Rumble had a negative return on equity of 62.75% and a negative net margin of 152.81%. During the same quarter in the previous year, the firm earned ($0.14) earnings per share. As a group, analysts anticipate that Rumble Inc. will post -0.62 EPS for the current year.

Insider Buying and Selling at Rumble

In other news, Director Robert Arsov sold 27,500 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $5.57, for a total transaction of $153,175.00. Following the transaction, the director now directly owns 14,824,837 shares in the company, valued at approximately $82,574,342.09. This represents a 0.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 195,000 shares of company stock worth $1,086,500 over the last three months. 72.90% of the stock is owned by insiders.

Institutional Trading of Rumble

Several hedge funds and other institutional investors have recently bought and sold shares of RUM. Bayesian Capital Management LP purchased a new position in Rumble in the 1st quarter worth approximately $256,000. Coppell Advisory Solutions Corp. purchased a new position in shares of Rumble during the first quarter valued at about $81,000. Empirical Capital Management LLC bought a new position in Rumble in the first quarter worth about $1,584,000. Virtu Financial LLC purchased a new stake in Rumble in the first quarter worth about $339,000. Finally, SG Americas Securities LLC purchased a new position in shares of Rumble during the 2nd quarter worth approximately $67,000. Hedge funds and other institutional investors own 26.15% of the company’s stock.

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.