Rumble (NASDAQ:RUM) Stock Price Down 4.1%

Rumble Inc. (NASDAQ:RUM)’s stock price traded down 4.1% during trading on Wednesday . The stock traded as low as $5.25 and last traded at $5.32. 361,722 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 3,227,414 shares. The stock had previously closed at $5.55.

Wall Street Analyst Weigh In

Separately, Wedbush reiterated a “neutral” rating and set a $8.00 price objective on shares of Rumble in a research report on Tuesday, August 13th.

Rumble Stock Down 4.9 %

The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of -8.67 and a beta of 0.75. The firm has a 50-day moving average of $6.02 and a two-hundred day moving average of $6.42.

Rumble (NASDAQ:RUM) last released its earnings results on Monday, August 12th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $22.47 million during the quarter, compared to analysts’ expectations of $19.69 million. As a group, sell-side analysts predict that Rumble Inc. will post -0.55 EPS for the current year.

Insider Activity at Rumble

In related news, Director Robert Arsov sold 27,500 shares of Rumble stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $5.76, for a total value of $158,400.00. Following the completion of the sale, the director now owns 14,994,837 shares of the company’s stock, valued at approximately $86,370,261.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have sold 195,000 shares of company stock valued at $1,118,325. 72.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of RUM. Redwood Wealth Management Group LLC bought a new position in Rumble in the 2nd quarter worth approximately $30,000. Principal Securities Inc. bought a new position in Rumble during the fourth quarter worth $32,000. Bank of New York Mellon Corp acquired a new position in Rumble during the 2nd quarter valued at $66,000. SG Americas Securities LLC bought a new stake in Rumble in the 2nd quarter valued at $67,000. Finally, Coppell Advisory Solutions Corp. acquired a new stake in Rumble in the 1st quarter worth $81,000. 26.15% of the stock is currently owned by institutional investors and hedge funds.

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.