Rumble Inc. (NASDAQ:RUM – Get Free Report)’s share price was up 6.9% during mid-day trading on Monday . The stock traded as high as $7.98 and last traded at $7.9730. 2,023,966 shares were traded during trading, a decline of 27% from the average session volume of 2,787,339 shares. The stock had previously closed at $7.46.
Analyst Ratings Changes
Several equities analysts have weighed in on the stock. Wall Street Zen lowered shares of Rumble from a “hold” rating to a “sell” rating in a report on Saturday. Weiss Ratings reissued a “sell (d-)” rating on shares of Rumble in a research report on Friday, July 24th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has a consensus rating of “Sell”.
View Our Latest Research Report on RUM
Rumble Price Performance
Rumble (NASDAQ:RUM – Get Free Report) last issued its earnings results on Monday, August 10th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.18). Rumble had a negative return on equity of 22.77% and a negative net margin of 134.60%.The business had revenue of $40.37 million for the quarter, compared to analyst estimates of $31.23 million. During the same period last year, the business posted ($0.12) EPS. Rumble’s revenue was up 61.0% on a year-over-year basis. Equities research analysts expect that Rumble Inc. will post -0.22 EPS for the current year.
Institutional Investors Weigh In On Rumble
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Cantor Fitzgerald L. P. grew its holdings in shares of Rumble by 26.5% during the fourth quarter. Cantor Fitzgerald L. P. now owns 9,326,205 shares of the company’s stock worth $58,942,000 after purchasing an additional 1,951,768 shares during the last quarter. Cooper Creek Partners Management LLC grew its stake in Rumble by 54.1% during the 1st quarter. Cooper Creek Partners Management LLC now owns 5,242,497 shares of the company’s stock worth $26,737,000 after buying an additional 1,840,893 shares during the last quarter. Geode Capital Management LLC grew its stake in Rumble by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 2,821,230 shares of the company’s stock worth $17,834,000 after buying an additional 78,303 shares during the last quarter. UBS Group AG increased its position in Rumble by 4.6% during the third quarter. UBS Group AG now owns 1,064,072 shares of the company’s stock worth $7,704,000 after buying an additional 46,925 shares during the period. Finally, Bank of America Corp DE increased its position in Rumble by 0.4% during the second quarter. Bank of America Corp DE now owns 637,500 shares of the company’s stock worth $5,725,000 after buying an additional 2,678 shares during the period. 26.15% of the stock is currently owned by institutional investors and hedge funds.
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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