Shares of Rumble Inc. (NASDAQ:RUM – Get Free Report) reached a new 52-week high during trading on Wednesday . The company traded as high as $10.60 and last traded at $10.23, with a volume of 8930072 shares. The stock had previously closed at $9.36.
Analyst Ratings Changes
A number of brokerages recently weighed in on RUM. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rumble in a report on Friday, July 24th. Wall Street Zen lowered Rumble from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Rumble presently has a consensus rating of “Sell”.
Read Our Latest Analysis on Rumble
Rumble Trading Up 0.5%
Rumble (NASDAQ:RUM – Get Free Report) last issued its quarterly earnings data on Monday, August 10th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $40.37 million for the quarter, compared to analyst estimates of $31.23 million. During the same quarter in the prior year, the firm earned ($0.12) EPS. The company’s revenue for the quarter was up 61.0% compared to the same quarter last year. As a group, equities analysts predict that Rumble Inc. will post -0.55 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Rumble
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Cantor Fitzgerald L. P. raised its stake 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 valued at $58,942,000 after purchasing an additional 1,951,768 shares during the period. Cooper Creek Partners Management LLC boosted its stake in shares of Rumble by 54.1% in the first quarter. Cooper Creek Partners Management LLC now owns 5,242,497 shares of the company’s stock valued at $26,737,000 after purchasing an additional 1,840,893 shares during the period. California State Teachers Retirement System grew its holdings in Rumble by 627.5% during the 2nd quarter. California State Teachers Retirement System now owns 516,881 shares of the company’s stock valued at $3,277,000 after purchasing an additional 445,828 shares in the last quarter. Barclays PLC grew its holdings in Rumble by 177.8% during the 4th quarter. Barclays PLC now owns 417,454 shares of the company’s stock valued at $2,638,000 after purchasing an additional 267,177 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in Rumble during the 3rd quarter worth $1,346,000. Hedge funds and other institutional investors own 26.15% of the company’s stock.
About Rumble
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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