Rumble (NASDAQ:RUM) Shares Down 7.9% – Should You Sell?

Rumble Inc. (NASDAQ:RUM)’s stock price dropped 7.9% during trading on Tuesday . The stock traded as low as $12.31 and last traded at $11.88. Approximately 1,053,082 shares changed hands during trading, a decline of 78% from the average daily volume of 4,751,232 shares. The stock had previously closed at $12.90.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on RUM shares. Maxim Group began coverage on Rumble in a research report on Wednesday, January 15th. They issued a “buy” rating and a $20.00 target price on the stock. Wedbush reissued a “neutral” rating and issued a $8.00 price objective on shares of Rumble in a report on Wednesday, November 13th.

Rumble Price Performance

The company’s fifty day moving average is $9.47 and its 200-day moving average is $7.12. The stock has a market cap of $5.09 billion, a PE ratio of -20.75 and a beta of 0.52.

Rumble (NASDAQ:RUM) last posted its earnings results on Tuesday, November 12th. The company reported ($0.15) 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 for the quarter, compared to analyst estimates of $29.25 million. During the same period last year, the business earned ($0.14) earnings per share. Analysts expect that Rumble Inc. will post -0.62 EPS for the current year.

Insider Activity

In other Rumble news, Director Robert Arsov sold 29,988 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $6.90, for a total value of $206,917.20. Following the completion of the transaction, the director now owns 12,487,349 shares in the company, valued at approximately $86,162,708.10. This represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold a total of 114,988 shares of company stock valued at $701,617 in the last three months. 70.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Rumble

A number of large investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Rumble by 20.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,962 shares of the company’s stock valued at $166,000 after buying an additional 5,348 shares in the last quarter. Barclays PLC grew 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 acquiring an additional 11,784 shares during the period. Bank of New York Mellon Corp purchased a new stake in Rumble in the 2nd quarter worth $66,000. Virtu Financial LLC acquired a new position in Rumble during the third quarter worth $70,000. Finally, RIA Advisory Group LLC purchased a new position in Rumble during the third quarter valued at $81,000. 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.