Short Interest in Rumble Inc. (NASDAQ:RUM) Declines By 27.1%

Rumble Inc. (NASDAQ:RUM) was the recipient of a large decrease in short interest in the month of December. As of December 31st, there was short interest totalling 10,990,000 shares, a decrease of 27.1% from the December 15th total of 15,070,000 shares. Currently, 14.8% of the company’s stock are short sold. Based on an average daily volume of 6,360,000 shares, the short-interest ratio is currently 1.7 days.

Insider Buying and Selling

In related news, Director Robert Arsov sold 27,500 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $5.69, for a total transaction of $156,475.00. Following the sale, the director now directly owns 12,577,337 shares in the company, valued at approximately $71,565,047.53. This trade represents a 0.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In the last three months, insiders sold 114,988 shares of company stock valued at $701,617. Company insiders own 72.90% of the company’s stock.

Institutional Trading of Rumble

A number of institutional investors and hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp acquired a new position in shares of Rumble in the 2nd quarter valued at about $66,000. Virtu Financial LLC bought a new position in Rumble in the third quarter worth about $70,000. Barclays PLC boosted its stake in Rumble by 663.9% in the third quarter. Barclays PLC now owns 13,559 shares of the company’s stock valued at $72,000 after acquiring an additional 11,784 shares during the period. RIA Advisory Group LLC bought a new position in shares of Rumble during the third quarter valued at approximately $81,000. Finally, Arizona State Retirement System acquired a new stake in shares of Rumble during the 2nd quarter worth approximately $91,000. 26.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Maxim Group assumed coverage on shares of Rumble in a research note on Wednesday. They set a “buy” rating and a $20.00 price objective on the stock. Wedbush reiterated a “neutral” rating and issued a $8.00 price objective on shares of Rumble in a report on Wednesday, November 13th.

Rumble Stock Up 5.3 %

Shares of RUM traded up $0.65 during trading on Friday, reaching $12.90. The company’s stock had a trading volume of 6,108,028 shares, compared to its average volume of 5,154,449. The company has a market cap of $5.03 billion, a price-to-earnings ratio of -20.48 and a beta of 0.52. The company has a fifty day moving average of $9.36 and a two-hundred day moving average of $7.05. Rumble has a twelve month low of $3.37 and a twelve month high of $17.40.

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). The firm had revenue of $25.06 million for the quarter, compared to analyst estimates of $29.25 million. Rumble had a negative net margin of 152.81% and a negative return on equity of 62.75%. During the same quarter in the previous year, the company earned ($0.14) EPS. As a group, equities analysts forecast that Rumble will post -0.62 EPS for the current fiscal year.

About Rumble

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.