Rumble (NASDAQ:RUM) Trading Down 6%

Rumble Inc. (NASDAQ:RUM) shares dropped 6% during mid-day trading on Wednesday . The company traded as low as $6.43 and last traded at $6.46. Approximately 423,361 shares traded hands during trading, a decline of 89% from the average daily volume of 3,858,645 shares. The stock had previously closed at $6.87.

Wall Street Analyst Weigh In

RUM has been the topic of a number of recent analyst reports. Oppenheimer restated a “market perform” rating on shares of Rumble in a report on Thursday, March 28th. Wedbush assumed coverage on Rumble in a report on Wednesday, July 17th. They set a “neutral” rating and a $8.00 price objective on the stock.

Rumble Trading Up 2.6 %

The company has a fifty day moving average price of $6.18 and a two-hundred day moving average price of $6.47.

Rumble (NASDAQ:RUM) last released its quarterly earnings data on Tuesday, May 14th. The company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.04. Rumble had a negative return on equity of 46.51% and a negative net margin of 161.62%. The business had revenue of $17.73 million for the quarter, compared to analysts’ expectations of $18.27 million. During the same quarter in the previous year, the business posted ($0.10) EPS. On average, analysts forecast that Rumble Inc. will post -0.56 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Robert Arsov sold 35,000 shares of Rumble stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $6.85, for a total value of $239,750.00. Following the sale, the director now owns 15,208,902 shares of the company’s stock, valued at approximately $104,180,978.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold 247,512 shares of company stock worth $1,547,680 in the last 90 days. Corporate insiders own 72.90% of the company’s stock.

Institutional Investors Weigh In On Rumble

Hedge funds and other institutional investors have recently bought and sold shares of the company. Global Retirement Partners LLC raised its position in Rumble by 1,100.0% in the 1st quarter. Global Retirement Partners LLC now owns 6,000 shares of the company’s stock valued at $48,000 after buying an additional 5,500 shares during the last quarter. Newbridge Financial Services Group Inc. raised its position in Rumble by 1,270.0% in the 1st quarter. Newbridge Financial Services Group Inc. now owns 6,850 shares of the company’s stock valued at $55,000 after buying an additional 6,350 shares during the last quarter. Principal Securities Inc. acquired a new stake in Rumble in the 4th quarter valued at approximately $32,000. Signaturefd LLC acquired a new position in shares of Rumble during the 4th quarter worth approximately $32,000. Finally, LexAurum Advisors LLC acquired a new position in shares of Rumble during the 1st quarter worth approximately $81,000. 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.