Rumble (NASDAQ:RUM) Shares Up 3.6% – What’s Next?

Rumble Inc. (NASDAQ:RUM)’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.

Rumble Stock Down 4.3 %

The firm has a market cap of $2.17 billion, a P/E ratio of -8.75 and a beta of 0.74. The business’s 50 day moving average is $5.58 and its two-hundred day moving average is $6.06.

Rumble (NASDAQ:RUM) 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.