Rumble (NASDAQ:RUM) Hits New 12-Month Low at $5.61

Rumble Inc. (NASDAQ:RUM)’s share price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $5.61 and last traded at $5.65, with a volume of 628216 shares trading hands. The stock had previously closed at $5.93.

Rumble Stock Performance

The stock has a 50-day moving average of $7.79 and a 200-day moving average of $8.72. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of -18.70 and a beta of 0.56.

Rumble (NASDAQ:RUM) last announced its earnings results on Monday, August 14th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.03). The firm had revenue of $24.97 million during the quarter, compared to analyst estimates of $19.89 million. Rumble had a negative net margin of 82.86% and a negative return on equity of 20.57%. Sell-side analysts predict that Rumble Inc. will post -0.61 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its position in shares of Rumble by 12.7% during the 2nd quarter. BlackRock Inc. now owns 1,738,498 shares of the company’s stock worth $15,507,000 after purchasing an additional 196,564 shares during the last quarter. Sacks David O increased its holdings in shares of Rumble by 30.3% during the 2nd quarter. Sacks David O now owns 1,060,459 shares of the company’s stock worth $9,459,000 after acquiring an additional 246,498 shares during the last quarter. State Street Corp increased its holdings in shares of Rumble by 236.7% during the 2nd quarter. State Street Corp now owns 946,213 shares of the company’s stock worth $8,440,000 after acquiring an additional 665,213 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Rumble by 1.9% during the 2nd quarter. Geode Capital Management LLC now owns 916,879 shares of the company’s stock worth $8,179,000 after acquiring an additional 16,778 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. acquired a new position in shares of Rumble during the 1st quarter worth approximately $5,040,000. Institutional investors and hedge funds own 6.47% of the company’s stock.

Rumble Company Profile

Rumble Inc operates video sharing platforms in the United States, Canada, and internationally. The company operates rumble.com, a 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. It also operates locals.com, a subscription platform for creators and subscribers to engage through VOD, podcasts, live chat, polls, and community discussions; and Rumble Advertising Center (RAC), an online advertising management exchange.