Rumble (NASDAQ:RUM) Given “Neutral” Rating at Wedbush

Wedbush reaffirmed their neutral rating on shares of Rumble (NASDAQ:RUM) in a report released on Wednesday morning,RTT News reports. Wedbush currently has a $8.00 target price on the stock.

Rumble Stock Down 10.0 %

NASDAQ RUM opened at $6.15 on Wednesday. The stock’s 50-day moving average price is $5.60 and its 200-day moving average price is $6.02. Rumble has a 52 week low of $3.33 and a 52 week high of $9.20. The company has a market capitalization of $2.39 billion, a P/E ratio of -9.76 and a beta of 0.72.

Rumble (NASDAQ:RUM) last issued its earnings results on Monday, August 12th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.03). The business had revenue of $22.47 million for the quarter, compared to the consensus estimate of $19.69 million. Rumble had a negative net margin of 152.81% and a negative return on equity of 59.00%. Research analysts anticipate that Rumble will post -0.55 EPS for the current year.

Insider Activity at Rumble

In other Rumble news, Director Robert Arsov sold 27,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $5.57, for a total transaction of $153,175.00. Following the completion of the transaction, the director now owns 14,824,837 shares in the company, valued at $82,574,342.09. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last 90 days, insiders have sold 195,000 shares of company stock valued at $1,086,500. 72.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Rumble

Institutional investors have recently added to or reduced their stakes in the company. Redwood Wealth Management Group LLC purchased a new position in Rumble during the 2nd quarter valued at $30,000. Bank of New York Mellon Corp purchased a new position in Rumble during the 2nd quarter valued at $66,000. SG Americas Securities LLC purchased a new position in Rumble during the 2nd quarter valued at $67,000. Coppell Advisory Solutions Corp. purchased a new position in Rumble during the 1st quarter valued at $81,000. Finally, RIA Advisory Group LLC purchased a new position in Rumble during the 3rd quarter valued at $81,000. Hedge funds and other institutional investors own 26.15% of the company’s stock.

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.