Rumble (NASDAQ:RUM) Shares Up 8.4% – Still a Buy?

Rumble Inc. (NASDAQ:RUM)’s stock price rose 8.4% during mid-day trading on Wednesday . The company traded as high as $9.65 and last traded at $9.6570. Approximately 2,958,970 shares changed hands during mid-day trading, an increase of 21% from the average daily volume of 2,444,677 shares. The stock had previously closed at $8.91.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Weiss Ratings upgraded shares of Rumble from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, April 27th. Wall Street Zen raised shares of Rumble from a “strong sell” rating to a “hold” rating in a research note on Saturday, May 16th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Rumble Price Performance

The firm has a 50 day moving average price of $6.36 and a 200-day moving average price of $6.25. The firm has a market cap of $4.25 billion, a price-to-earnings ratio of -22.69 and a beta of 1.02.

Rumble (NASDAQ:RUM) last announced its quarterly earnings data on Thursday, March 5th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). The firm had revenue of $27.07 million during the quarter, compared to analyst estimates of $27.09 million. Rumble had a negative return on equity of 42.47% and a negative net margin of 106.91%.Rumble’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.15) earnings per share. On average, sell-side analysts expect that Rumble Inc. will post -0.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Rumble

Several large investors have recently bought and sold shares of the business. Neo Ivy Capital Management bought a new stake in shares of Rumble during the 3rd quarter valued at $1,563,000. Monaco Asset Management SAM acquired a new stake in shares of Rumble during the third quarter worth $724,000. Vanguard Group Inc. lifted its stake in Rumble by 1.4% in the third quarter. Vanguard Group Inc. now owns 8,934,542 shares of the company’s stock valued at $64,686,000 after buying an additional 122,788 shares during the period. Virtu Financial LLC bought a new position in Rumble during the fourth quarter worth about $146,000. Finally, AQR Capital Management LLC boosted its holdings in Rumble by 15.1% during the fourth quarter. AQR Capital Management LLC now owns 22,905 shares of the company’s stock worth $145,000 after buying an additional 3,013 shares during the last quarter. 26.15% of the stock is currently owned by institutional investors and hedge funds.

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.