Rumble (NASDAQ:RUM) Shares Gap Up – Should You Buy?

Rumble Inc. (NASDAQ:RUM)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $7.29, but opened at $8.46. Rumble shares last traded at $7.5990, with a volume of 2,858,265 shares.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on RUM. Wall Street Zen raised Rumble from a “strong sell” rating to a “hold” rating in a report on Saturday, May 16th. Weiss Ratings raised Rumble from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, April 27th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Rumble currently has a consensus rating of “Sell”.

Rumble Price Performance

The stock has a market capitalization of $3.21 billion, a P/E ratio of -17.09 and a beta of 1.07. The company’s 50 day simple moving average is $7.34 and its two-hundred day simple moving average is $6.49.

Institutional Investors Weigh In On Rumble

A number of large investors have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. acquired a new stake in Rumble during the 4th quarter valued at $47,000. Canada Pension Plan Investment Board acquired a new position in Rumble in the second quarter worth $75,000. Daiwa Securities Group Inc. grew its holdings in shares of Rumble by 47.8% during the fourth quarter. Daiwa Securities Group Inc. now owns 9,254 shares of the company’s stock worth $58,000 after purchasing an additional 2,993 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Rumble in the third quarter valued at $72,000. Finally, VestGen Advisors LLC bought a new position in shares of Rumble in the fourth quarter valued at about $64,000. 26.15% of the stock is currently owned by institutional investors.

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.