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

Rumble Inc. (NASDAQ:RUM)’s stock price rose 8.4% on Wednesday . The stock 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

RUM has been the topic of several recent research reports. Wall Street Zen upgraded shares of Rumble from a “strong sell” rating to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings upgraded shares of Rumble from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, April 27th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Rumble Stock Performance

The business’s 50 day moving average price is $6.53 and its two-hundred day moving average price is $6.30. The company has a market capitalization of $4.00 billion, a price-to-earnings ratio of -21.34 and a beta of 1.02.

Rumble (NASDAQ:RUM) last issued its quarterly earnings results on Thursday, March 5th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates 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 return on equity of 42.47% and a negative net margin of 106.91%.The company’s revenue was down 10.3% on a year-over-year basis. During the same period in the prior year, the company posted ($1.15) earnings per share. On average, sell-side analysts expect that Rumble Inc. will post -0.22 earnings per share for the current year.

Institutional Trading of Rumble

A number of institutional investors have recently made changes to their positions in RUM. Bank of New York Mellon Corp raised its holdings in shares of Rumble by 0.5% during the first quarter. Bank of New York Mellon Corp now owns 322,245 shares of the company’s stock valued at $1,643,000 after acquiring an additional 1,475 shares during the period. RIA Advisory Group LLC raised its holdings in shares of Rumble by 12.1% during the third quarter. RIA Advisory Group LLC now owns 16,725 shares of the company’s stock valued at $121,000 after acquiring an additional 1,800 shares during the period. Cetera Investment Advisers raised its holdings in shares of Rumble by 9.5% during the fourth quarter. Cetera Investment Advisers now owns 23,396 shares of the company’s stock valued at $148,000 after acquiring an additional 2,032 shares during the period. ProShare Advisors LLC raised its holdings in shares of Rumble by 12.9% during the third quarter. ProShare Advisors LLC now owns 18,248 shares of the company’s stock valued at $132,000 after acquiring an additional 2,091 shares during the period. Finally, Bank of America Corp DE raised its holdings in shares of Rumble by 0.4% during the second quarter. Bank of America Corp DE now owns 637,500 shares of the company’s stock valued at $5,725,000 after acquiring an additional 2,678 shares during the period. 26.15% of the stock is owned by institutional investors and hedge funds.

Rumble Company Profile

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.