Rumble (NASDAQ:RUM) Shares Gap Down – Should You Sell?

Rumble Inc. (NASDAQ:RUM)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $8.41, but opened at $8.06. Rumble shares last traded at $8.13, with a volume of 250,999 shares changing hands.

Wall Street Analyst Weigh In

Separately, Wedbush reiterated a “neutral” rating and issued a $8.00 target price on shares of Rumble in a report on Wednesday, November 13th.

Rumble Trading Down 0.2 %

The stock has a fifty day simple moving average of $6.26 and a 200-day simple moving average of $6.01. The stock has a market cap of $3.17 billion, a price-to-earnings ratio of -12.91 and a beta of 0.81.

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

Insider Activity

In related news, Director Robert Arsov sold 27,500 shares of the firm’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $5.12, for a total value of $140,800.00. Following the completion of the transaction, the director now directly owns 12,659,837 shares of the company’s stock, valued at $64,818,365.44. This trade represents a 0.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders sold 169,988 shares of company stock valued at $986,517. Insiders own 72.90% of the company’s stock.

Hedge Funds Weigh In On Rumble

Hedge funds have recently made changes to their positions in the business. Redwood Wealth Management Group LLC bought a new stake in Rumble in the second quarter valued at about $30,000. Bank of New York Mellon Corp bought a new stake in shares of Rumble in the 2nd quarter valued at approximately $66,000. SG Americas Securities LLC acquired a new position in shares of Rumble in the 2nd quarter worth approximately $67,000. Virtu Financial LLC bought a new position in shares of Rumble during the 3rd quarter worth approximately $70,000. Finally, Barclays PLC boosted its stake in Rumble by 663.9% in the 3rd quarter. Barclays PLC now owns 13,559 shares of the company’s stock valued at $72,000 after buying an additional 11,784 shares in the last quarter. Institutional investors and hedge funds 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.