Rumble (NASDAQ:RUM) Stock Price Down 3.9%

Rumble Inc. (NASDAQ:RUM)’s share price dropped 3.9% during trading on Wednesday . The stock traded as low as $8.23 and last traded at $8.27. Approximately 1,894,443 shares changed hands during trading, a decline of 72% from the average daily volume of 6,802,654 shares. The stock had previously closed at $8.61.

Analyst Ratings Changes

Separately, Oppenheimer reiterated a “market perform” rating on shares of Rumble in a research report on Thursday.

Rumble Trading Down 4.9 %

The company has a 50-day moving average price of $6.98 and a 200-day moving average price of $5.63.

Rumble (NASDAQ:RUM) last announced its earnings results on Wednesday, March 27th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.08. Rumble had a negative return on equity of 37.06% and a negative net margin of 143.79%. The firm had revenue of $20.39 million for the quarter, compared to the consensus estimate of $28.13 million. During the same quarter in the previous year, the business earned ($0.06) EPS. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. Research analysts anticipate that Rumble Inc. will post -0.58 EPS for the current year.

Hedge Funds Weigh In On Rumble

Several large investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its holdings in shares of Rumble by 12.7% in the second quarter. BlackRock Inc. now owns 1,738,498 shares of the company’s stock valued at $15,507,000 after acquiring an additional 196,564 shares in the last quarter. State Street Corp boosted its stake in Rumble by 236.7% during the 2nd quarter. State Street Corp now owns 946,213 shares of the company’s stock valued at $8,440,000 after purchasing an additional 665,213 shares in the last quarter. Geode Capital Management LLC boosted its stake in Rumble by 1.9% during the 2nd quarter. Geode Capital Management LLC now owns 916,879 shares of the company’s stock valued at $8,179,000 after purchasing an additional 16,778 shares in the last quarter. Ameriprise Financial Inc. acquired a new position in shares of Rumble during the 3rd quarter valued at $5,042,000. Finally, B. Riley Wealth Advisors Inc. bought a new stake in shares of Rumble in the 1st quarter worth $5,040,000. Institutional investors and hedge funds own 26.15% of the company’s stock.

About Rumble

Rumble Inc operates video sharing platforms in the United States, Canada, and internationally. The company operates rumble.com, a 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. It also operates locals.com, a subscription platform for creators and subscribers to engage through VOD, podcasts, live chat, polls, and community discussions; and Rumble Advertising Center (RAC), an online advertising management exchange.