Maxim Group Begins Coverage on Rumble (NASDAQ:RUM)

Investment analysts at Maxim Group started coverage on shares of Rumble (NASDAQ:RUM) in a note issued to investors on Wednesday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $20.00 price target on the stock. Maxim Group’s price objective indicates a potential upside of 95.89% from the company’s previous close.

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

Rumble Stock Performance

Rumble stock opened at $10.21 on Wednesday. The firm’s 50 day moving average price is $8.99 and its two-hundred day moving average price is $6.93. The firm has a market cap of $3.98 billion, a PE ratio of -16.21 and a beta of 0.52. Rumble has a twelve month low of $3.37 and a twelve month high of $17.40.

Rumble (NASDAQ:RUM) last issued its earnings results on Tuesday, November 12th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). Rumble had a negative net margin of 152.81% and a negative return on equity of 62.75%. The firm had revenue of $25.06 million during the quarter, compared to analysts’ expectations of $29.25 million. During the same quarter last year, the firm earned ($0.14) EPS. Equities analysts anticipate that Rumble will post -0.62 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Robert Arsov sold 29,988 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $6.90, for a total transaction of $206,917.20. Following the completion of the transaction, the director now directly owns 12,487,349 shares in the company, valued at $86,162,708.10. The trade was a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 114,988 shares of company stock valued at $701,617 in the last quarter. Insiders own 72.90% of the company’s stock.

Hedge Funds Weigh In On Rumble

Several large investors have recently bought and sold shares of RUM. Bank of New York Mellon Corp acquired a new stake in Rumble in the 2nd quarter worth $66,000. Virtu Financial LLC bought a new stake in shares of Rumble in the 3rd quarter worth approximately $70,000. Barclays PLC grew its holdings in shares of Rumble by 663.9% during the 3rd quarter. Barclays PLC now owns 13,559 shares of the company’s stock worth $72,000 after purchasing an additional 11,784 shares in the last quarter. RIA Advisory Group LLC bought a new stake in Rumble in the 3rd quarter valued at $81,000. Finally, Arizona State Retirement System bought a new stake in Rumble in the second quarter valued at about $91,000. 26.15% of the stock is currently owned by institutional investors and hedge funds.

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.