Rumble Inc. (NASDAQ:RUM – Get Free Report) saw a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 12,400,000 shares, a growth of 24.6% from the February 13th total of 9,950,000 shares. Approximately 6.6% of the company’s shares are sold short. Based on an average daily volume of 6,410,000 shares, the days-to-cover ratio is currently 1.9 days.
Analyst Upgrades and Downgrades
Separately, Maxim Group assumed coverage on shares of Rumble in a research note on Wednesday, January 15th. They issued a “buy” rating and a $20.00 target price for the company.
View Our Latest Stock Analysis on RUM
Insider Buying and Selling at Rumble
Institutional Trading of Rumble
Several institutional investors have recently added to or reduced their stakes in RUM. D. E. Shaw & Co. Inc. increased its stake in Rumble by 9,234.4% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,351,803 shares of the company’s stock valued at $17,587,000 after purchasing an additional 1,337,321 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Rumble by 287.7% during the fourth quarter. Millennium Management LLC now owns 781,747 shares of the company’s stock valued at $10,171,000 after acquiring an additional 580,105 shares during the period. Two Sigma Investments LP acquired a new position in shares of Rumble during the fourth quarter valued at $4,093,000. Balyasny Asset Management L.P. acquired a new position in shares of Rumble during the fourth quarter valued at $3,966,000. Finally, Centiva Capital LP acquired a new position in shares of Rumble during the fourth quarter valued at $3,304,000. Institutional investors own 26.15% of the company’s stock.
Rumble Stock Down 0.9 %
Shares of RUM traded down $0.07 during mid-day trading on Monday, hitting $7.96. The company had a trading volume of 389,956 shares, compared to its average volume of 3,594,533. The business’s 50-day simple moving average is $11.02 and its 200-day simple moving average is $8.38. The stock has a market cap of $3.10 billion, a PE ratio of -12.63 and a beta of 0.56. Rumble has a 1-year low of $4.92 and a 1-year high of $17.40.
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.
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