Rumble (NASDAQ:RUM) Shares Gap Down – What’s Next?

Rumble Inc. (NASDAQ:RUM) gapped down prior to trading on Tuesday . The stock had previously closed at $13.03, but opened at $12.73. Rumble shares last traded at $14.82, with a volume of 13,299,346 shares changing hands.

Analyst Upgrades and Downgrades

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

Rumble Trading Down 2.7 %

The business’s 50-day simple moving average is $6.90 and its two-hundred day simple moving average is $6.17. The firm has a market cap of $4.94 billion, a price-to-earnings ratio of -20.13 and a beta of 0.81.

Rumble (NASDAQ:RUM) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.02). The firm 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 last year, the company earned ($0.14) earnings per share. On average, analysts forecast that Rumble Inc. will post -0.62 earnings per share for the current fiscal year.

Insider Transactions at Rumble

In other news, Director Robert Arsov sold 27,500 shares of Rumble stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $5.12, for a total value of $140,800.00. Following the completion of the sale, the director now owns 12,659,837 shares in the company, valued at $64,818,365.44. The trade was a 0.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last ninety days, insiders sold 169,988 shares of company stock valued at $986,517. Corporate insiders own 72.90% of the company’s stock.

Institutional Investors Weigh In On Rumble

A number of large investors have recently bought and sold shares of RUM. Zurcher Kantonalbank Zurich Cantonalbank boosted its position 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 purchasing an additional 5,348 shares in the last quarter. Redwood Wealth Management Group LLC bought a new position in Rumble in the second quarter worth approximately $30,000. Cambridge Investment Research Advisors Inc. boosted its holdings in Rumble by 5.3% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 175,927 shares of the company’s stock worth $976,000 after acquiring an additional 8,824 shares in the last quarter. Barclays PLC grew its stake in Rumble by 663.9% in the third quarter. Barclays PLC now owns 13,559 shares of the company’s stock valued at $72,000 after acquiring an additional 11,784 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in shares of Rumble during the second quarter valued at approximately $66,000. 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.