Rumble (NASDAQ:RUM) Shares Gap Up – Time to Buy?

Rumble Inc. (NASDAQ:RUM)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $11.52, but opened at $12.03. Rumble shares last traded at $11.89, with a volume of 846,879 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on RUM shares. Maxim Group assumed coverage on Rumble in a research report on Wednesday, January 15th. They set a “buy” rating and a $20.00 target price on the stock. Wedbush restated a “neutral” rating and set a $8.00 price objective on shares of Rumble in a report on Wednesday, November 13th.

Rumble Trading Up 0.5 %

The stock has a market capitalization of $4.51 billion, a P/E ratio of -18.38 and a beta of 0.50. The stock’s 50 day simple moving average is $11.69 and its 200 day simple moving average is $7.96.

Insider Activity

In other Rumble news, Director Robert Arsov sold 29,988 shares of Rumble stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $6.90, for a total value of $206,917.20. Following the completion of the transaction, the director now owns 12,487,349 shares of the company’s stock, valued at $86,162,708.10. The trade was a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CTO Wojciech Hlibowicki sold 3,817,165 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $7.50, for a total transaction of $28,628,737.50. Following the sale, the chief technology officer now directly owns 4,592 shares in the company, valued at $34,440. This trade represents a 99.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,134,005 shares of company stock worth $308,487,045. 70.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Rumble

Large investors have recently bought and sold shares of the business. IFP Advisors Inc raised its position in shares of Rumble by 70.9% during the 4th quarter. IFP Advisors Inc now owns 2,000 shares of the company’s stock worth $26,000 after purchasing an additional 830 shares during the period. Coppell Advisory Solutions LLC bought a new position in Rumble during the 4th quarter worth $35,000. Steward Partners Investment Advisory LLC increased its position in Rumble by 50.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,933 shares of the company’s stock worth $38,000 after buying an additional 980 shares during the period. Measured Risk Portfolios Inc. bought a new stake in Rumble in the fourth quarter valued at $65,000. Finally, Global Retirement Partners LLC acquired a new position in shares of Rumble during the fourth quarter valued at $78,000. 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.