Rumble (NASDAQ:RUM) Stock Price Down 3.9%

Rumble Inc. (NASDAQ:RUM) fell 3.9% during trading on Wednesday . The stock traded as low as $8.23 and last traded at $8.27. 1,894,443 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 6,802,654 shares. The stock had previously closed at $8.61.

Analyst Upgrades and Downgrades

Separately, Oppenheimer reaffirmed a “market perform” rating on shares of Rumble in a report on Thursday.

Rumble Trading Down 4.9 %

The business has a fifty day simple moving average of $6.98 and a 200 day simple moving average of $5.63.

Rumble (NASDAQ:RUM) last posted its quarterly earnings data on Wednesday, March 27th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.08. Rumble had a negative return on equity of 37.06% and a negative net margin of 143.79%. The firm had revenue of $20.39 million during the quarter, compared to the consensus estimate of $28.13 million. During the same period in the prior year, the company earned ($0.06) EPS. The firm’s revenue was up 2.2% compared to the same quarter last year. Equities research analysts expect that Rumble Inc. will post -0.58 EPS for the current fiscal year.

Hedge Funds Weigh In On Rumble

Several hedge funds and other institutional investors have recently modified their holdings of the business. HighPoint Advisor Group LLC purchased a new position in shares of Rumble during the 4th quarter worth $499,000. Goldman Sachs Group Inc. increased its position in shares of Rumble by 3,674.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 76,961 shares of the company’s stock worth $346,000 after purchasing an additional 74,922 shares during the last quarter. Harbour Investments Inc. lifted its holdings in shares of Rumble by 11.4% in the 4th quarter. Harbour Investments Inc. now owns 14,999 shares of the company’s stock worth $67,000 after acquiring an additional 1,540 shares during the last quarter. Balyasny Asset Management L.P. acquired a new stake in shares of Rumble during the fourth quarter worth about $400,000. Finally, Northern Trust Corp boosted its holdings in Rumble by 43.9% in the fourth quarter. Northern Trust Corp now owns 198,792 shares of the company’s stock valued at $893,000 after purchasing an additional 60,685 shares during the period. 26.15% of the stock is owned by hedge funds and other institutional investors.

About Rumble

Rumble Inc operates video sharing platforms in the United States, Canada, and internationally. The company operates rumble.com, a 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. It also operates locals.com, a subscription platform for creators and subscribers to engage through VOD, podcasts, live chat, polls, and community discussions; and Rumble Advertising Center (RAC), an online advertising management exchange.