Rumble (NASDAQ:RUM) Releases Earnings Results, Beats Estimates By $0.08 EPS

Rumble (NASDAQ:RUM) announced its earnings results on Wednesday. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.08, Briefing.com reports. Rumble had a negative net margin of 109.39% and a negative return on equity of 30.48%. The business had revenue of $20.39 million for the quarter, compared to analysts’ expectations of $28.13 million. During the same period in the previous year, the company posted ($0.06) EPS. The company’s quarterly revenue was up 2.2% on a year-over-year basis.

Rumble Stock Performance

Shares of NASDAQ RUM opened at $8.50 on Thursday. The firm has a market capitalization of $3.28 billion, a P/E ratio of -19.77 and a beta of 0.77. Rumble has a one year low of $3.33 and a one year high of $11.25. The company’s fifty day moving average is $6.88 and its two-hundred day moving average is $5.61.

Analysts Set New Price Targets

Separately, Oppenheimer reiterated a “market perform” rating on shares of Rumble in a research report on Thursday.

Institutional Investors Weigh In On Rumble

Institutional investors have recently made changes to their positions in the stock. Harbour Investments Inc. raised its stake in shares of Rumble by 11.4% during the 4th quarter. Harbour Investments Inc. now owns 14,999 shares of the company’s stock worth $67,000 after buying an additional 1,540 shares during the last quarter. Squarepoint Ops LLC acquired a new position in Rumble in the 4th quarter valued at about $75,000. ExodusPoint Capital Management LP acquired a new position in Rumble in the 4th quarter valued at about $77,000. Tower Research Capital LLC TRC raised its stake in Rumble by 603.3% in the 3rd quarter. Tower Research Capital LLC TRC now owns 17,054 shares of the company’s stock valued at $87,000 after purchasing an additional 14,629 shares during the last quarter. Finally, Wetherby Asset Management Inc. acquired a new position in Rumble in the 1st quarter valued at about $100,000. 26.15% of the stock is currently owned by hedge funds and other institutional investors.

About Rumble

Rumble Inc operates video sharing platforms in the United States, Canada, and internationally. The company operates rumble.com, a 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. It also operates locals.com, a subscription platform for creators and subscribers to engage through VOD, podcasts, live chat, polls, and community discussions; and Rumble Advertising Center (RAC), an online advertising management exchange.