Rumble (NASDAQ:RUM) Sets New 1-Year High – Time to Buy?

Rumble Inc. (NASDAQ:RUM)’s stock price reached a new 52-week high on Monday . The stock traded as high as $10.31 and last traded at $10.31, with a volume of 2476465 shares trading hands. The stock had previously closed at $7.19.

Wall Street Analyst Weigh In

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

Rumble Stock Performance

The business has a fifty day simple moving average of $6.61 and a 200 day simple moving average of $6.08. The stock has a market cap of $5.11 billion, a price-to-earnings ratio of -20.83 and a beta of 0.81.

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

Insider Transactions at Rumble

In related news, Director Robert Arsov sold 27,500 shares of the company’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 in the company, valued at approximately $64,818,365.44. This represents a 0.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold a total of 169,988 shares of company stock worth $986,517 over the last ninety days. 72.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Rumble

A number of hedge funds have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Rumble by 20.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,962 shares of the company’s stock worth $166,000 after acquiring an additional 5,348 shares during the period. Redwood Wealth Management Group LLC acquired a new position in Rumble during the second quarter worth approximately $30,000. Cambridge Investment Research Advisors Inc. raised its stake in Rumble by 5.3% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 175,927 shares of the company’s stock worth $976,000 after purchasing an additional 8,824 shares during the period. Barclays PLC boosted its holdings in shares of 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 purchasing an additional 11,784 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Rumble during the 2nd quarter valued at $66,000. 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.