Rumble (NASDAQ:RUM) Given Neutral Rating at Wedbush

Rumble (NASDAQ:RUM)‘s stock had its “neutral” rating reissued by research analysts at Wedbush in a research note issued to investors on Wednesday,RTT News reports. They presently have a $8.00 price target on the stock. Wedbush’s target price would suggest a potential upside of 35.36% from the stock’s previous close.

Rumble Stock Performance

Shares of RUM stock traded down $0.92 during midday trading on Wednesday, hitting $5.91. 1,932,013 shares of the company were exchanged, compared to its average volume of 3,052,626. The firm has a market capitalization of $2.30 billion, a P/E ratio of -9.68 and a beta of 0.72. The firm’s 50 day moving average price is $5.58 and its two-hundred day moving average price is $6.02. Rumble has a 52 week low of $3.33 and a 52 week high of $9.20.

Rumble (NASDAQ:RUM) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.03). Rumble had a negative return on equity of 54.31% and a negative net margin of 163.37%. The business had revenue of $22.47 million during the quarter, compared to analyst estimates of $19.69 million. Analysts expect that Rumble will post -0.55 EPS for the current year.

Insiders Place Their Bets

In other Rumble news, Director Robert Arsov sold 27,500 shares of Rumble stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $5.59, for a total value of $153,725.00. Following the completion of the sale, the director now owns 14,769,837 shares in the company, valued at $82,563,388.83. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 195,000 shares of company stock worth $1,086,500 in the last quarter. 72.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Rumble

Hedge funds and other institutional investors have recently made changes to their positions in the company. Redwood Wealth Management Group LLC bought a new stake in shares of Rumble during the 2nd quarter valued at approximately $30,000. Bank of New York Mellon Corp bought a new stake in shares of Rumble in the 2nd quarter valued at $66,000. SG Americas Securities LLC bought a new stake in shares of Rumble in the 2nd quarter valued at $67,000. Coppell Advisory Solutions Corp. bought a new stake in shares of Rumble in the 1st quarter valued at $81,000. Finally, RIA Advisory Group LLC acquired a new position in shares of Rumble during the 3rd quarter valued at $81,000. 26.15% of the stock is currently 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.