Rumble (NASDAQ:RUM) Hits New 1-Year Low – Here’s What Happened

Rumble Inc. (NASDAQ:RUM) reached a new 52-week low during mid-day trading on Thursday. The stock traded as low as $4.60 and last traded at $4.6350, with a volume of 1,240,671 shares changing hands. The stock had previously closed at $5.11.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on RUM. Lake Street Capital assumed coverage on Rumble in a research note on Tuesday, October 6th. They set a “hold” rating and a $25.00 price target on the stock. Zacks Research cut Rumble from a “hold” rating to a “strong sell” rating in a research note on Monday, October 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rumble in a report on Thursday, October 22nd. Finally, Wall Street Zen downgraded Rumble from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. One analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Sell” and a consensus price target of $25.00.

Rumble Stock Down 8.9%

The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.25. The stock has a market cap of $2.31 billion, a PE ratio of -7.89 and a beta of 1.35. The business has a 50 day moving average price of $7.32 and a 200 day moving average price of $6.70.

Rumble (NASDAQ:RUM) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.18). Rumble had a negative net margin of 134.60% and a negative return on equity of 22.77%. The company had revenue of $40.37 million for the quarter, compared to analysts’ expectations of $31.23 million. During the same quarter in the prior year, the business posted ($0.12) earnings per share. The firm’s revenue was up 61.0% compared to the same quarter last year. Equities research analysts expect that Rumble Inc. will post -0.55 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cooper Creek Partners Management LLC boosted its stake in shares of Rumble by 54.1% during the 1st quarter. Cooper Creek Partners Management LLC now owns 5,242,497 shares of the company’s stock worth $26,737,000 after acquiring an additional 1,840,893 shares in the last quarter. State of Wyoming acquired a new stake in shares of Rumble during the 1st quarter valued at about $62,000. Bank of New York Mellon Corp increased its stake in shares of Rumble by 0.5% in the 1st quarter. Bank of New York Mellon Corp now owns 322,245 shares of the company’s stock valued at $1,643,000 after purchasing an additional 1,475 shares in the last quarter. Hsbc Holdings PLC purchased a new position in shares of Rumble in the 1st quarter valued at about $81,000. Finally, Sigma Planning Corp raised its holdings in Rumble by 2.1% in the 1st quarter. Sigma Planning Corp now owns 162,699 shares of the company’s stock worth $830,000 after purchasing an additional 3,349 shares during the period. Hedge funds and other institutional investors own 26.15% of the company’s stock.

About Rumble

Rumble Inc operates a video-sharing and livestreaming platform that enables users and organizations to upload, watch, and distribute video content. The platform hosts user-generated videos, live broadcasts, podcasts, news programming, and other digital media, and generates revenue through advertising and related services.

The company also provides technology and cloud infrastructure services through Rumble Cloud, which is designed to support content hosting, storage, and distribution. Rumble has positioned its platform as an alternative to larger video and social-media services, emphasizing creator independence and free-expression policies.

Founded in 2013 by Chris Pavlovski, Rumble serves users and content creators internationally, with a significant audience in North America.