Rumble (NASDAQ:RUM) Trading 8.5% Higher – Time to Buy?

Rumble Inc. (NASDAQ:RUM)’s stock price rose 8.5% during mid-day trading on Tuesday . The company traded as high as $10.18 and last traded at $10.16. Approximately 1,824,769 shares were traded during mid-day trading, a decline of 36% from the average daily volume of 2,844,096 shares. The stock had previously closed at $9.36.

Analysts Set New Price Targets

Several research firms recently commented on RUM. Wall Street Zen cut shares of Rumble from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Rumble in a research report on Friday, July 24th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has a consensus rating of “Sell”.

Rumble Price Performance

The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.25. The stock has a market cap of $5.11 billion, a price-to-earnings ratio of -17.41 and a beta of 1.14. The company’s 50-day moving average is $6.63 and its 200-day moving average is $6.51.

Rumble (NASDAQ:RUM) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.18). The company had revenue of $40.37 million during the quarter, compared to the consensus estimate of $31.23 million. Rumble had a negative net margin of 134.60% and a negative return on equity of 22.77%. The business’s revenue was up 61.0% on a year-over-year basis. During the same quarter last year, the company earned ($0.12) earnings per share. Equities research analysts expect that Rumble Inc. will post -0.69 earnings per share for the current fiscal year.

Institutional Trading of Rumble

Several hedge funds have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. acquired a new stake in Rumble during the 4th quarter valued at $47,000. Daiwa Securities Group Inc. increased its stake in shares of Rumble by 47.8% in the fourth quarter. Daiwa Securities Group Inc. now owns 9,254 shares of the company’s stock valued at $58,000 after buying an additional 2,993 shares in the last quarter. State of Wyoming bought a new position in shares of Rumble in the first quarter valued at about $62,000. VestGen Advisors LLC acquired a new position in Rumble during the 4th quarter worth about $64,000. Finally, NewEdge Advisors LLC lifted its position in Rumble by 2,905.9% during the 4th quarter. NewEdge Advisors LLC now owns 10,250 shares of the company’s stock worth $65,000 after buying an additional 9,909 shares in the last quarter. Institutional investors and hedge funds own 26.15% of the company’s stock.

About Rumble

Rumble Inc operates a video-sharing platform designed to offer creators and audiences an alternative to traditional social media and streaming services. The company’s primary business activities include hosting, distributing and monetizing user–generated and professional video content. Through its platform, Rumble enables content creators to retain a higher share of advertising revenue and maintain greater control over their intellectual property, while offering viewers open access to a wide range of videos spanning news, sports, entertainment and educational programming.

In addition to its core video platform, Rumble provides cloud–based video hosting and delivery services via Rumble Cloud, a content–delivery network (CDN) designed to support high–volume streaming and storage.