Rumble (NASDAQ:RUM) Trading Down 4.5% – Time to Sell?

Rumble Inc. (NASDAQ:RUM) dropped 4.5% on Tuesday . The company traded as low as $10.36 and last traded at $10.43. Approximately 1,516,877 shares were traded during trading, a decline of 67% from the average daily volume of 4,539,688 shares. The stock had previously closed at $10.92.

Analyst Ratings Changes

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

Rumble Stock Performance

The firm’s fifty day simple moving average is $9.09 and its 200 day simple moving average is $6.96. The stock has a market capitalization of $4.77 billion, a price-to-earnings ratio of -19.44 and a beta of 0.52.

Rumble (NASDAQ:RUM) last issued 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). The company had revenue of $25.06 million for the quarter, compared to analyst estimates 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 previous year, the business earned ($0.14) earnings per share. Analysts forecast that Rumble Inc. will post -0.62 earnings per share for the current year.

Insider Activity

In other news, Director Robert Arsov sold 27,500 shares of Rumble stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $5.69, for a total value of $156,475.00. Following the sale, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 114,988 shares of company stock worth $701,617 over the last three months. Corporate insiders own 72.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in RUM. Bank of New York Mellon Corp bought a new stake in Rumble during the 2nd quarter worth about $66,000. Virtu Financial LLC acquired a new stake in shares of Rumble in the third quarter valued at about $70,000. Barclays PLC raised its holdings in Rumble by 663.9% during the third 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 acquired a new position in Rumble during the third quarter valued at approximately $81,000. Finally, Arizona State Retirement System acquired a new position in Rumble during the second quarter valued at approximately $91,000. Institutional investors and hedge funds own 26.15% of the company’s stock.

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.