Shares of Rumble Inc. (NASDAQ:RUM – Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $8.33, but opened at $9.43. Rumble shares last traded at $8.6870, with a volume of 4,337,269 shares trading hands.
Analyst Upgrades and Downgrades
Several equities research analysts recently issued reports on the company. Weiss Ratings upgraded Rumble from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, April 27th. Wall Street Zen upgraded Rumble from a “strong sell” rating to a “hold” rating in a research note on Saturday, May 16th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.
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Rumble Price Performance
Rumble (NASDAQ:RUM – Get Free Report) last announced its quarterly earnings data 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 net margin of 106.91% and a negative return on equity of 42.47%. The firm had revenue of $27.07 million for the quarter, compared to analyst estimates of $27.09 million. During the same quarter in the prior year, the firm earned ($1.15) earnings per share. The firm’s revenue for the quarter was down 10.3% on a year-over-year basis. As a group, research analysts predict that Rumble Inc. will post -0.22 earnings per share for the current year.
Hedge Funds Weigh In On Rumble
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. acquired a new stake in Rumble in the fourth quarter valued at $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 during the period. State of Wyoming acquired a new stake in Rumble during the 1st quarter worth about $62,000. VestGen Advisors LLC acquired a new stake in Rumble during the 4th quarter worth about $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 during the period. Institutional investors own 26.15% of the company’s stock.
Rumble Company Profile
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.
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