Rumble Inc. (NASDAQ:RUM) Short Interest Update

Rumble Inc. (NASDAQ:RUM) was the target of a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 12,400,000 shares, an increase of 24.6% from the February 13th total of 9,950,000 shares. Currently, 6.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 6,410,000 shares, the short-interest ratio is presently 1.9 days.

Rumble Price Performance

NASDAQ RUM traded down $0.42 on Tuesday, reaching $7.69. The company had a trading volume of 1,581,166 shares, compared to its average volume of 3,085,658. The firm has a market cap of $3.00 billion, a price-to-earnings ratio of -12.21 and a beta of 0.56. Rumble has a fifty-two week low of $4.92 and a fifty-two week high of $17.38. The business has a 50 day moving average of $10.91 and a two-hundred day moving average of $8.39.

Insider Activity at Rumble

In related news, CEO Christopher Pavlovski sold 354,849 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $7.50, for a total value of $2,661,367.50. Following the completion of the sale, the chief executive officer now directly owns 522,927 shares in the company, valued at $3,921,952.50. This represents a 40.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Brandon Alexandroff sold 6,828,420 shares of the stock in a transaction on Friday, February 7th. The shares were sold at an average price of $7.50, for a total value of $51,213,150.00. Following the completion of the sale, the chief financial officer now owns 64,210 shares of the company’s stock, valued at $481,575. The trade was a 99.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,104,017 shares of company stock worth $308,280,128. Company insiders own 70.10% of the company’s stock.

Institutional Trading of Rumble

Institutional investors have recently bought and sold shares of the company. IFP Advisors Inc boosted its position in Rumble by 70.9% during the fourth quarter. IFP Advisors Inc now owns 2,000 shares of the company’s stock valued at $26,000 after acquiring an additional 830 shares during the last quarter. Coppell Advisory Solutions LLC bought a new stake in Rumble during the fourth quarter valued at $35,000. Steward Partners Investment Advisory LLC boosted its position in Rumble by 50.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,933 shares of the company’s stock valued at $38,000 after acquiring an additional 980 shares during the last quarter. Measured Risk Portfolios Inc. bought a new stake in Rumble during the fourth quarter valued at $65,000. Finally, Virtu Financial LLC bought a new stake in Rumble during the third quarter valued at $70,000. Institutional investors own 26.15% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Maxim Group began coverage on Rumble in a report on Wednesday, January 15th. They issued a “buy” rating and a $20.00 price objective for the company.

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.