Rumble (NASDAQ:RUM) Trading 7.9% Higher – Time to Buy?

Rumble Inc. (NASDAQ:RUM) shares shot up 7.9% on Monday . The stock traded as high as $6.95 and last traded at $7.0340. 1,068,710 shares were traded during trading, a decline of 51% from the average session volume of 2,174,784 shares. The stock had previously closed at $6.52.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Rumble in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Rumble currently has an average rating of “Sell”.

Rumble Stock Performance

The company has a market cap of $3.12 billion, a price-to-earnings ratio of -22.48 and a beta of 0.71. The business’s 50 day simple moving average is $5.49 and its 200-day simple moving average is $6.16.

Rumble (NASDAQ:RUM) last announced its quarterly earnings data on Thursday, March 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.02). Rumble had a negative return on equity of 39.76% and a negative net margin of 81.32%.The firm had revenue of $27.07 million for the quarter, compared to analysts’ expectations of $27.09 million. During the same quarter in the prior year, the business posted ($1.15) earnings per share. Rumble’s revenue was down 10.3% on a year-over-year basis. Research analysts expect that Rumble Inc. will post -0.32 earnings per share for the current year.

Insider Buying and Selling at Rumble

In other news, major shareholder Tether Global Investments Fund purchased 44,355 shares of Rumble stock in a transaction dated Friday, February 6th. The stock was acquired at an average cost of $5.48 per share, for a total transaction of $243,065.40. Following the acquisition, the insider directly owned 105,174,015 shares in the company, valued at $576,353,602.20. This represents a 0.04% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders bought 777,012 shares of company stock worth $4,222,236. 70.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Rumble

A number of hedge funds have recently added to or reduced their stakes in RUM. Neo Ivy Capital Management acquired a new position in shares of Rumble during the 3rd quarter worth $1,563,000. Monaco Asset Management SAM acquired a new stake in shares of Rumble in the 3rd quarter valued at $724,000. Vanguard Group Inc. boosted its holdings in Rumble by 1.4% in the third quarter. Vanguard Group Inc. now owns 8,934,542 shares of the company’s stock worth $64,686,000 after purchasing an additional 122,788 shares in the last quarter. ProShare Advisors LLC boosted its holdings in Rumble by 12.9% in the third quarter. ProShare Advisors LLC now owns 18,248 shares of the company’s stock worth $132,000 after purchasing an additional 2,091 shares in the last quarter. Finally, Jones Financial Companies Lllp increased its position in Rumble by 21.1% during the third quarter. Jones Financial Companies Lllp now owns 16,083 shares of the company’s stock worth $115,000 after buying an additional 2,801 shares during the last quarter. Institutional investors and hedge funds own 26.15% of the company’s stock.

Rumble Company Profile

Rumble Inc operates a video-sharing platform designed to offer creators and audiences an alternative to traditional social media and streaming services. The company’s primary business activities include hosting, distributing and monetizing user–generated and professional video content. Through its platform, Rumble enables content creators to retain a higher share of advertising revenue and maintain greater control over their intellectual property, while offering viewers open access to a wide range of videos spanning news, sports, entertainment and educational programming.

In addition to its core video platform, Rumble provides cloud–based video hosting and delivery services via Rumble Cloud, a content–delivery network (CDN) designed to support high–volume streaming and storage.