Rumble (NASDAQ:RUM) Trading 10.5% Higher – Should You Buy?

Rumble Inc. (NASDAQ:RUM)’s share price traded up 10.5% during mid-day trading on Thursday . The company traded as high as $8.15 and last traded at $8.1410. 1,346,152 shares traded hands during trading, a decline of 44% from the average session volume of 2,391,413 shares. The stock had previously closed at $7.37.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented 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 upgraded Rumble from a “strong sell” rating to a “hold” rating in a research report on Saturday, May 16th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Rumble Trading Up 9.6%

The firm has a market capitalization of $3.51 billion, a price-to-earnings ratio of -18.78 and a beta of 1.02. The stock’s 50 day moving average price is $6.13 and its two-hundred day moving average price is $6.19.

Rumble (NASDAQ:RUM) last announced its quarterly earnings data on Thursday, March 5th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.02). The company had revenue of $27.07 million during the quarter, compared to analyst estimates of $27.09 million. Rumble had a negative net margin of 106.91% and a negative return on equity of 42.47%. The firm’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same quarter last year, the business earned ($1.15) EPS. On average, sell-side analysts forecast that Rumble Inc. will post -0.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rumble

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its stake in shares of Rumble by 0.5% during the 1st quarter. Bank of New York Mellon Corp now owns 322,245 shares of the company’s stock worth $1,643,000 after acquiring an additional 1,475 shares in the last quarter. RIA Advisory Group LLC increased its stake in Rumble by 12.1% in the 3rd quarter. RIA Advisory Group LLC now owns 16,725 shares of the company’s stock valued at $121,000 after purchasing an additional 1,800 shares in the last quarter. Cetera Investment Advisers raised its holdings in Rumble by 9.5% during the fourth quarter. Cetera Investment Advisers now owns 23,396 shares of the company’s stock worth $148,000 after purchasing an additional 2,032 shares during the last quarter. ProShare Advisors LLC boosted its position in Rumble by 12.9% during the third quarter. ProShare Advisors LLC now owns 18,248 shares of the company’s stock worth $132,000 after purchasing an additional 2,091 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in Rumble by 0.4% during the second quarter. Bank of America Corp DE now owns 637,500 shares of the company’s stock worth $5,725,000 after purchasing an additional 2,678 shares in 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.