Rumble Inc. (NASDAQ:RUM) Sees Significant Growth in Short Interest

Rumble Inc. (NASDAQ:RUMGet 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

In other Rumble news, CEO Christopher Pavlovski sold 354,849 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $7.50, for a total value of $2,661,367.50. Following the sale, the chief executive officer now directly owns 522,927 shares of the company’s stock, valued at approximately $3,921,952.50. This represents a 40.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Ryan Milnes sold 24,978,210 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $7.50, for a total transaction of $187,336,575.00. Following the sale, the director now owns 57,290 shares of the company’s stock, valued at approximately $429,675. This represents a 99.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,104,017 shares of company stock worth $308,280,128 in the last ninety days. 70.10% of the stock is owned by insiders.

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

(Get Free Report)

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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