Rumble Inc. (NASDAQ:RUM) Short Interest Down 27.1% in December

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

Insiders Place Their Bets

In related news, Director Robert Arsov sold 29,988 shares of Rumble stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $6.90, for a total transaction of $206,917.20. Following the sale, 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders sold 114,988 shares of company stock worth $701,617. Insiders own 72.90% of the company’s stock.

Institutional Inflows and Outflows

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

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on RUM. Wedbush reaffirmed a “neutral” rating and set a $8.00 target price on shares of Rumble in a research note on Wednesday, November 13th. Maxim Group assumed coverage on shares of Rumble in a research report on Wednesday. They set a “buy” rating and a $20.00 price objective for the company.

Rumble Price Performance

Shares of NASDAQ:RUM traded up $0.65 on Friday, reaching $12.90. 6,108,028 shares of the company traded hands, compared to its average volume of 5,154,449. The stock has a market capitalization of $5.03 billion, a PE ratio of -20.48 and a beta of 0.52. The company’s 50 day moving average is $9.36 and its 200-day moving average is $7.05. Rumble has a fifty-two week low of $3.37 and a fifty-two week high of $17.40.

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

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.