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

Rumble Inc. (NASDAQ:RUM)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $5.89, but opened at $6.56. Rumble shares last traded at $6.5910, with a volume of 5,231,087 shares.

Analyst Ratings Changes

Several analysts have recently issued reports on RUM shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Rumble in a report on Wednesday, October 8th. Wall Street Zen downgraded shares of Rumble from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $14.00.

Rumble Stock Performance

The firm has a market cap of $2.78 billion, a price-to-earnings ratio of -4.50 and a beta of 0.69. The company has a 50 day moving average price of $7.29 and a 200 day moving average price of $8.24.

Rumble (NASDAQ:RUM) last issued its quarterly earnings data on Sunday, August 10th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.06). The company had revenue of $25.09 million during the quarter, compared to analysts’ expectations of $26.78 million. Rumble had a negative net margin of 289.37% and a negative return on equity of 97.99%. The business’s quarterly revenue was up 11.6% on a year-over-year basis. On average, research analysts forecast that Rumble Inc. will post -0.62 earnings per share for the current year.

Institutional Trading of Rumble

Institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp boosted its stake in shares of Rumble by 100.2% in the 1st quarter. Bank of New York Mellon Corp now owns 26,823 shares of the company’s stock valued at $190,000 after buying an additional 13,427 shares during the period. Stratos Wealth Partners LTD. lifted its position in shares of Rumble by 353.2% during the 1st quarter. Stratos Wealth Partners LTD. now owns 63,596 shares of the company’s stock worth $450,000 after purchasing an additional 49,564 shares during the last quarter. Arizona State Retirement System increased its holdings in Rumble by 9.4% in the first quarter. Arizona State Retirement System now owns 18,727 shares of the company’s stock valued at $132,000 after buying an additional 1,615 shares during the last quarter. CWM LLC lifted its holdings in Rumble by 104.3% during the 1st quarter. CWM LLC now owns 4,395 shares of the company’s stock worth $31,000 after buying an additional 2,244 shares during the last quarter. Finally, Victory Capital Management Inc. purchased a new position in shares of Rumble in the 1st quarter valued at about $173,000. Institutional investors and hedge funds own 26.15% of the company’s stock.

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.