Rumble (NASDAQ:RUM) Shares Up 13.7% – Still a Buy?

Shares of Rumble Inc. (NASDAQ:RUM) were up 13.7% during trading on Friday . The company traded as high as $8.33 and last traded at $8.49. Approximately 3,173,616 shares traded hands during trading, an increase of 38% from the average daily volume of 2,296,993 shares. The stock had previously closed at $7.47.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of Rumble from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, April 27th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of “Sell”.

Rumble Trading Up 11.3%

The company has a market cap of $3.62 billion, a price-to-earnings ratio of -25.98 and a beta of 1.02. The firm’s fifty day simple moving average is $5.71 and its 200 day simple moving average is $6.15.

Rumble (NASDAQ:RUM) last posted its quarterly earnings results on Thursday, March 5th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.02). Rumble had a negative return on equity of 39.76% and a negative net margin of 81.32%.The firm had revenue of $27.07 million for the quarter, compared to analyst estimates of $27.09 million. During the same quarter last year, the firm earned ($1.15) EPS. The company’s revenue was down 10.3% on a year-over-year basis. As a group, sell-side analysts expect that Rumble Inc. will post -0.32 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in RUM. Meeder Asset Management Inc. acquired a new position in Rumble during the 3rd quarter worth approximately $28,000. Northwestern Mutual Wealth Management Co. acquired a new position in Rumble during the 4th quarter worth approximately $47,000. Daiwa Securities Group Inc. grew its holdings in Rumble by 47.8% during the 4th quarter. Daiwa Securities Group Inc. now owns 9,254 shares of the company’s stock worth $58,000 after acquiring an additional 2,993 shares in the last quarter. VestGen Advisors LLC acquired a new position in Rumble during the 4th quarter worth approximately $64,000. Finally, NewEdge Advisors LLC grew its holdings in Rumble by 2,905.9% during the 4th quarter. NewEdge Advisors LLC now owns 10,250 shares of the company’s stock worth $65,000 after acquiring an additional 9,909 shares in the last quarter. Institutional investors and hedge funds own 26.15% of the company’s stock.

About Rumble

Rumble Inc operates a video-sharing platform designed to offer creators and audiences an alternative to traditional social media and streaming services. The company’s primary business activities include hosting, distributing and monetizing user–generated and professional video content. Through its platform, Rumble enables content creators to retain a higher share of advertising revenue and maintain greater control over their intellectual property, while offering viewers open access to a wide range of videos spanning news, sports, entertainment and educational programming.

In addition to its core video platform, Rumble provides cloud–based video hosting and delivery services via Rumble Cloud, a content–delivery network (CDN) designed to support high–volume streaming and storage.