Rumble (NASDAQ:RUM) Stock Price Up 9.5% – Should You Buy?

Rumble Inc. (NASDAQ:RUM)’s stock price rose 9.5% during trading on Wednesday . The company traded as high as $11.26 and last traded at $11.18. Approximately 1,568,300 shares traded hands during trading, a decline of 65% from the average daily volume of 4,521,853 shares. The stock had previously closed at $10.21.

Analyst Ratings Changes

Several analysts have commented on the company. Maxim Group initiated coverage on Rumble in a report on Wednesday. They issued a “buy” rating and a $20.00 price objective on the stock. Wedbush reissued a “neutral” rating and issued a $8.00 price target on shares of Rumble in a research note on Wednesday, November 13th.

Rumble Price Performance

The business has a fifty day moving average of $9.09 and a 200 day moving average of $6.96. The stock has a market capitalization of $5.03 billion, a price-to-earnings ratio of -20.48 and a beta of 0.52.

Rumble (NASDAQ:RUM) last released its quarterly earnings results 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). The business had revenue of $25.06 million for the quarter, compared to analysts’ expectations of $29.25 million. Rumble had a negative return on equity of 62.75% and a negative net margin of 152.81%. During the same quarter in the prior year, the company posted ($0.14) earnings per share. On average, equities research analysts expect that Rumble Inc. will post -0.62 EPS for the current year.

Insider Buying and Selling at Rumble

In other news, Director Robert Arsov sold 27,500 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $5.69, for a total transaction of $156,475.00. Following the completion of the transaction, the director now directly owns 12,577,337 shares in the company, valued at $71,565,047.53. This trade represents a 0.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold a total of 114,988 shares of company stock worth $701,617 over the last three months. Insiders own 72.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of RUM. Bank of New York Mellon Corp purchased a new stake in shares of Rumble during the second quarter worth approximately $66,000. Virtu Financial LLC purchased a new stake in shares of Rumble during the 3rd quarter worth approximately $70,000. Barclays PLC raised its stake in Rumble by 663.9% during the 3rd quarter. Barclays PLC now owns 13,559 shares of the company’s stock worth $72,000 after acquiring an additional 11,784 shares in the last quarter. RIA Advisory Group LLC purchased a new stake in Rumble in the third quarter valued at $81,000. Finally, Arizona State Retirement System acquired a new position in Rumble in the second quarter valued at $91,000. 26.15% of the stock is owned by institutional investors and hedge funds.

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.