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

Rumble Inc. (NASDAQ:RUM) gapped up prior to trading on Thursday . The stock had previously closed at $8.33, but opened at $9.43. Rumble shares last traded at $8.6870, with a volume of 4,337,269 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Weiss Ratings upgraded Rumble from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, April 27th. Wall Street Zen upgraded Rumble from a “strong sell” rating to a “hold” rating in a report on Saturday, May 16th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Rumble has an average rating of “Sell”.

Rumble Price Performance

The business has a fifty day simple moving average of $6.83 and a two-hundred day simple moving average of $6.38. The company has a market cap of $3.74 billion, a PE ratio of -20.22 and a beta of 1.07.

Rumble (NASDAQ:RUM) last released its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $27.09 million. Rumble had a negative net margin of 106.91% and a negative return on equity of 42.47%. The business’s quarterly revenue was down 10.3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.15) EPS. On average, equities research analysts predict that Rumble Inc. will post -0.22 EPS for the current year.

Institutional Investors Weigh In On Rumble

A number of large investors have recently made changes to their positions in RUM. Bank of New York Mellon Corp increased its position 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 worth $1,643,000 after acquiring an additional 1,475 shares during the period. RIA Advisory Group LLC increased its position 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 worth $121,000 after acquiring an additional 1,800 shares during the period. Cetera Investment Advisers increased its position in shares of 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 acquiring an additional 2,032 shares during the period. ProShare Advisors LLC increased its position in shares of 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 acquiring an additional 2,091 shares during the period. Finally, Bank of America Corp DE increased its position 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 worth $5,725,000 after acquiring an additional 2,678 shares during the period. 26.15% of the stock is currently owned by hedge funds and other institutional investors.

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.