Rumble (NASDAQ:RUM) Shares Gap Up – Should You Buy?

Shares of Rumble Inc. (NASDAQ:RUM) gapped up prior to trading on Friday . The stock had previously closed at $16.27, but opened at $17.20. Rumble shares last traded at $15.48, with a volume of 4,764,443 shares changing hands.

Analysts Set New Price Targets

Separately, Wedbush restated a “neutral” rating and set a $8.00 price objective on shares of Rumble in a research report on Wednesday, November 13th.

Rumble Stock Performance

The stock has a market cap of $5.88 billion, a PE ratio of -23.95 and a beta of 0.81. The business has a 50-day moving average of $7.25 and a 200 day moving average of $6.29.

Rumble (NASDAQ:RUM) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). Rumble had a negative net margin of 152.81% and a negative return on equity of 62.75%. The firm had revenue of $25.06 million during the quarter, compared to analyst estimates of $29.25 million. During the same period in the prior year, the firm earned ($0.14) EPS. Equities analysts expect that Rumble Inc. will post -0.62 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Robert Arsov sold 27,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $5.24, for a total value of $144,100.00. Following the sale, the director now directly owns 12,714,837 shares of the company’s stock, valued at approximately $66,625,745.88. This trade represents a 0.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 169,988 shares of company stock valued at $986,517 in the last quarter. 72.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Rumble

A number of large investors have recently bought and sold shares of RUM. Geode Capital Management LLC increased its stake in Rumble by 14.5% during the third quarter. Geode Capital Management LLC now owns 1,035,718 shares of the company’s stock worth $5,553,000 after acquiring an additional 130,956 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Rumble by 5.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 478,317 shares of the company’s stock worth $2,564,000 after purchasing an additional 24,879 shares during the period. Cambridge Investment Research Advisors Inc. increased its position in Rumble by 5.3% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 175,927 shares of the company’s stock worth $976,000 after purchasing an additional 8,824 shares in the last quarter. MML Investors Services LLC purchased a new position in Rumble in the third quarter valued at approximately $185,000. Finally, Janus Henderson Group PLC acquired a new position in Rumble during the third quarter valued at approximately $184,000. Hedge funds and other institutional investors own 26.15% of the company’s stock.

Rumble Company Profile

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.