Rumble (NASDAQ:RUM) Stock Price Up 5.3% – Still a Buy?

Rumble Inc. (NASDAQ:RUM)’s stock price traded up 5.3% during mid-day trading on Thursday . The company traded as high as $13.67 and last traded at $13.28. 4,785,241 shares traded hands during mid-day trading, a decline of 6% from the average session volume of 5,084,666 shares. The stock had previously closed at $12.61.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Wedbush reissued a “neutral” rating and set a $8.00 target price on shares of Rumble in a research report on Wednesday, November 13th. Maxim Group initiated coverage on Rumble in a research note on Wednesday, January 15th. They issued a “buy” rating and a $20.00 target price on the stock.

Rumble Trading Up 2.9 %

The company has a market cap of $5.06 billion, a P/E ratio of -20.60 and a beta of 0.52. The company has a 50 day moving average price of $9.72 and a 200-day moving average price of $7.21.

Rumble (NASDAQ:RUM) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). The business had revenue of $25.06 million during the quarter, compared to analyst estimates of $29.25 million. Rumble had a negative net margin of 152.81% and a negative return on equity of 62.75%. During the same period in the prior year, the firm earned ($0.14) earnings per share. Equities analysts expect that Rumble Inc. will post -0.62 earnings per share for the current year.

Insiders Place Their Bets

In other Rumble news, Director Robert Arsov sold 29,988 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $6.90, for a total transaction of $206,917.20. Following the transaction, the director now owns 12,487,349 shares in the company, valued at approximately $86,162,708.10. This represents a 0.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 114,988 shares of company stock worth $701,617 over the last 90 days. Corporate insiders own 70.10% of the company’s stock.

Institutional Trading of Rumble

A number of hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its holdings in shares of Rumble by 14.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,035,718 shares of the company’s stock valued at $5,553,000 after purchasing an additional 130,956 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Rumble by 5.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 478,317 shares of the company’s stock valued at $2,564,000 after acquiring an additional 24,879 shares in the last quarter. MML Investors Services LLC acquired a new stake in shares of Rumble during the third quarter worth $185,000. Janus Henderson Group PLC acquired a new position in Rumble during the third quarter valued at $184,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Rumble by 20.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,962 shares of the company’s stock valued at $166,000 after buying an additional 5,348 shares in the last quarter. 26.15% of the stock is owned by institutional investors.

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.