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

Rumble (NASDAQ:RUM)‘s stock had its “neutral” rating reissued by equities research analysts at Wedbush in a note issued to investors on Tuesday, Benzinga reports. They currently have a $8.00 target price on the stock. Wedbush’s price objective indicates a potential upside of 39.13% from the company’s previous close.

Rumble Stock Down 1.7 %

RUM stock opened at $5.75 on Tuesday. Rumble has a 12-month low of $3.33 and a 12-month high of $9.20. The company has a market cap of $2.23 billion, a price-to-earnings ratio of -8.98 and a beta of 0.77. The company has a 50 day moving average of $5.98 and a two-hundred day moving average of $6.65.

Rumble (NASDAQ:RUM) last released its earnings results on Tuesday, May 14th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.04. Rumble had a negative net margin of 161.62% and a negative return on equity of 46.51%. The company had revenue of $17.73 million during the quarter, compared to the consensus estimate of $18.27 million. During the same quarter in the prior year, the firm earned ($0.10) EPS. On average, research analysts anticipate that Rumble will post -0.56 EPS for the current year.

Insider Activity

In other news, Director Robert Arsov sold 27,500 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $5.87, for a total transaction of $161,425.00. Following the transaction, the director now owns 14,879,837 shares in the company, valued at approximately $87,344,643.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders have sold 200,000 shares of company stock worth $1,176,525. 72.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Redwood Wealth Management Group LLC acquired a new stake in shares of Rumble during the 2nd quarter valued at about $30,000. Global Retirement Partners LLC raised its stake in shares of Rumble by 1,100.0% in the first quarter. Global Retirement Partners LLC now owns 6,000 shares of the company’s stock worth $48,000 after acquiring an additional 5,500 shares during the last quarter. Newbridge Financial Services Group Inc. raised its stake in shares of Rumble by 1,270.0% in the first quarter. Newbridge Financial Services Group Inc. now owns 6,850 shares of the company’s stock worth $55,000 after acquiring an additional 6,350 shares during the last quarter. Principal Securities Inc. bought a new position in shares of Rumble in the fourth quarter worth about $32,000. Finally, Signaturefd LLC bought a new position in shares of Rumble in the fourth quarter worth about $32,000. 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.