Rumble (NASDAQ:RUM) Sets New 52-Week High – Should You Buy?

Rumble Inc. (NASDAQ:RUM) shares reached a new 52-week high on Monday . The company traded as high as $10.31 and last traded at $10.31, with a volume of 2476465 shares traded. The stock had previously closed at $7.19.

Analysts Set New Price Targets

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

Rumble Stock Down 2.7 %

The stock has a 50-day moving average of $6.76 and a 200 day moving average of $6.12. The stock has a market cap of $4.94 billion, a PE ratio of -20.13 and a beta of 0.81.

Rumble (NASDAQ:RUM) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.02). Rumble had a negative return on equity of 62.75% and a negative net margin of 152.81%. The company had revenue of $25.06 million for the quarter, compared to analysts’ expectations of $29.25 million. During the same quarter in the prior year, the firm earned ($0.14) EPS. Research analysts forecast that Rumble Inc. will post -0.62 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Robert Arsov sold 27,500 shares of the business’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $5.12, for a total value of $140,800.00. Following the sale, the director now directly owns 12,659,837 shares in the company, valued at approximately $64,818,365.44. The trade was a 0.22 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 169,988 shares of company stock valued at $986,517 over the last ninety days. Company insiders own 72.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Rumble by 20.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,962 shares of the company’s stock worth $166,000 after buying an additional 5,348 shares during the period. Redwood Wealth Management Group LLC purchased a new position in Rumble during the 2nd quarter valued at about $30,000. Cambridge Investment Research Advisors Inc. grew its position in Rumble by 5.3% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 175,927 shares of the company’s stock valued at $976,000 after acquiring an additional 8,824 shares in the last quarter. Barclays PLC increased its stake 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 purchasing an additional 11,784 shares during the period. Finally, Bank of New York Mellon Corp purchased a new stake in Rumble during the second quarter worth about $66,000. Hedge funds and other institutional investors own 26.15% of the company’s stock.

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.