Rumble (NASDAQ:RUM) Sees Unusually-High Trading Volume – What’s Next?

Rumble Inc. (NASDAQ:RUM) saw unusually-high trading volume on Thursday . Approximately 5,947,730 shares traded hands during mid-day trading, an increase of 63% from the previous session’s volume of 3,647,566 shares.The stock last traded at $14.82 and had previously closed at $12.68.

Wall Street Analyst Weigh In

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

Rumble Trading Down 6.4 %

The business’s fifty day moving average is $7.44 and its 200 day moving average is $6.35. The company has a market cap of $5.93 billion, a P/E ratio of -24.17 and a beta of 0.81.

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

Insider Buying and Selling at Rumble

In other news, Director Robert Arsov sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $5.93, for a total value of $177,900.00. Following the sale, the director now owns 12,517,337 shares of the company’s stock, valued at $74,227,808.41. The trade was a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold a total of 169,988 shares of company stock valued at $986,517 over the last three months. 72.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of RUM. Geode Capital Management LLC lifted its position in shares of Rumble by 14.5% during the third quarter. Geode Capital Management LLC now owns 1,035,718 shares of the company’s stock worth $5,553,000 after acquiring an additional 130,956 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Rumble by 5.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 478,317 shares of the company’s stock worth $2,564,000 after purchasing an additional 24,879 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in Rumble by 5.3% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 175,927 shares of the company’s stock worth $976,000 after purchasing an additional 8,824 shares during the period. MML Investors Services LLC purchased a new position in Rumble during the 3rd quarter valued at about $185,000. Finally, Janus Henderson Group PLC bought a new stake in shares of Rumble during the third quarter valued at about $184,000. 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 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.