Rumble (NASDAQ:RUM) Shares Gap Up – Should You Buy?

Rumble Inc. (NASDAQ:RUM) gapped up before the market opened on Wednesday . The stock had previously closed at $5.68, but opened at $5.98. Rumble shares last traded at $6.16, with a volume of 2,390,309 shares trading hands.

Wall Street Analyst Weigh In

Separately, Wedbush reissued a “neutral” rating and set a $8.00 price objective on shares of Rumble in a research note on Wednesday, November 13th.

Rumble Price Performance

The stock has a market cap of $2.50 billion, a PE ratio of -10.19 and a beta of 0.72. The company has a 50 day moving average price of $5.68 and a two-hundred day moving average price of $5.98.

Rumble (NASDAQ:RUM) last posted its earnings results on Tuesday, November 12th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.02). Rumble had a negative net margin of 152.81% and a negative return on equity of 62.75%. The company had revenue of $25.06 million for the quarter, compared to the consensus estimate of $29.25 million. During the same quarter in the prior year, the company posted ($0.14) EPS. As a group, equities analysts predict that Rumble Inc. will post -0.62 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Rumble news, Director Robert Arsov sold 27,500 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $5.57, for a total transaction of $153,175.00. Following the completion of the sale, the director now directly owns 14,824,837 shares in the company, valued at approximately $82,574,342.09. The trade was a 0.19 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders have sold 195,000 shares of company stock worth $1,086,500. 72.90% of the stock is owned by insiders.

Institutional Trading of Rumble

Several large investors have recently modified their holdings of RUM. Redwood Wealth Management Group LLC purchased a new position in shares of Rumble during the 2nd quarter worth $30,000. Bank of New York Mellon Corp bought a new stake in Rumble during the second quarter valued at about $66,000. SG Americas Securities LLC purchased a new stake in Rumble in the second quarter worth about $67,000. Virtu Financial LLC bought a new position in shares of Rumble in the third quarter worth about $70,000. Finally, Barclays PLC grew its stake in shares of Rumble by 663.9% during the 3rd quarter. Barclays PLC now owns 13,559 shares of the company’s stock valued at $72,000 after acquiring an additional 11,784 shares during the period. Institutional investors 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 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.