Rumble (NASDAQ:RUM) Trading Down 9.7% – Time to Sell?

Rumble Inc. (NASDAQ:RUM)’s share price dropped 9.7% during mid-day trading on Monday . The stock traded as low as $13.57 and last traded at $13.76. Approximately 2,469,440 shares traded hands during mid-day trading, a decline of 36% from the average daily volume of 3,835,453 shares. The stock had previously closed at $15.23.

Analyst Ratings Changes

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

Rumble Price Performance

The firm has a fifty day moving average of $7.44 and a two-hundred day moving average of $6.36. The stock has a market capitalization of $5.29 billion, a P/E ratio of -21.56 and a beta of 0.81.

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

Insider Buying and Selling at Rumble

In other Rumble news, Director Robert Arsov sold 27,500 shares of the business’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $5.12, for a total value of $140,800.00. Following the transaction, the director now directly owns 12,659,837 shares in the company, valued at $64,818,365.44. The trade was a 0.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last three months, insiders have sold 169,988 shares of company stock valued at $986,517. Company insiders own 72.90% of the company’s stock.

Institutional Investors Weigh In On Rumble

Several institutional investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its holdings in Rumble by 5.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 478,317 shares of the company’s stock worth $2,564,000 after buying an additional 24,879 shares during the last quarter. MML Investors Services LLC acquired a new position in Rumble in the third quarter valued at approximately $185,000. FMR LLC raised its holdings in Rumble by 995.3% during the third quarter. FMR LLC now owns 22,387 shares of the company’s stock worth $120,000 after purchasing an additional 20,343 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Rumble during the 2nd quarter worth approximately $66,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Rumble in the 2nd quarter valued at $142,000. 26.15% of the stock is owned by hedge funds and other institutional investors.

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.