Rumble Inc. (NASDAQ:RUM) Short Interest Update

Rumble Inc. (NASDAQ:RUM) was the target of a significant decline in short interest in December. As of December 31st, there was short interest totalling 10,990,000 shares, a decline of 27.1% from the December 15th total of 15,070,000 shares. Approximately 14.8% of the shares of the company are sold short. Based on an average daily volume of 6,360,000 shares, the short-interest ratio is presently 1.7 days.

Rumble Stock Up 5.3 %

NASDAQ RUM traded up $0.65 during trading hours on Friday, hitting $12.90. 5,875,790 shares of the stock were exchanged, compared to its average volume of 5,133,454. Rumble has a 12-month low of $3.37 and a 12-month high of $17.40. The stock has a 50-day moving average of $9.09 and a 200 day moving average of $6.96. The company has a market cap of $5.03 billion, a price-to-earnings ratio of -20.48 and a beta of 0.52.

Rumble (NASDAQ:RUM) last issued its earnings results on Tuesday, November 12th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.02). The company had revenue of $25.06 million for the quarter, compared to analysts’ expectations of $29.25 million. Rumble had a negative return on equity of 62.75% and a negative net margin of 152.81%. During the same quarter in the previous year, the firm posted ($0.14) earnings per share. On average, equities research analysts expect that Rumble will post -0.62 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Wedbush restated a “neutral” rating and issued a $8.00 price target on shares of Rumble in a research report on Wednesday, November 13th. Maxim Group began coverage on Rumble in a report on Wednesday. They issued a “buy” rating and a $20.00 target price on the stock.

Insider Transactions at Rumble

In other Rumble news, Director Robert Arsov sold 29,988 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $6.90, for a total transaction of $206,917.20. Following the transaction, the director now directly owns 12,487,349 shares of the company’s stock, valued at approximately $86,162,708.10. This trade represents a 0.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last 90 days, insiders have sold 114,988 shares of company stock worth $701,617. Corporate insiders own 72.90% of the company’s stock.

Institutional Investors Weigh In On Rumble

Several institutional investors have recently modified their holdings of the company. Geode Capital Management LLC raised its holdings in Rumble by 14.5% during the third quarter. Geode Capital Management LLC now owns 1,035,718 shares of the company’s stock worth $5,553,000 after purchasing an additional 130,956 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Rumble by 5.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 478,317 shares of the company’s stock valued at $2,564,000 after buying an additional 24,879 shares in the last quarter. MML Investors Services LLC acquired a new position in shares of Rumble during the 3rd quarter worth $185,000. Janus Henderson Group PLC purchased a new stake in shares of Rumble in the 3rd quarter worth about $184,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Rumble by 20.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,962 shares of the company’s stock valued at $166,000 after acquiring an additional 5,348 shares during the last quarter. Hedge funds and other institutional investors own 26.15% of the company’s stock.

About Rumble

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.