Short Interest in Rumble Inc. (NASDAQ:RUM) Drops By 14.3%

Rumble Inc. (NASDAQ:RUM) saw a significant decrease in short interest in April. As of April 15th, there was short interest totalling 12,500,000 shares, a decrease of 14.3% from the March 31st total of 14,580,000 shares. Based on an average daily trading volume, of 6,220,000 shares, the short-interest ratio is currently 2.0 days. Approximately 19.1% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

Separately, Oppenheimer restated a “market perform” rating on shares of Rumble in a report on Thursday, March 28th.

Insider Buying and Selling

In related news, Director David O. Sacks sold 133,896 shares of Rumble stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $6.45, for a total transaction of $863,629.20. Following the sale, the director now directly owns 3,390 shares in the company, valued at $21,865.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director David O. Sacks sold 133,896 shares of the stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $6.45, for a total value of $863,629.20. Following the completion of the transaction, the director now directly owns 3,390 shares in the company, valued at approximately $21,865.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert Arsov sold 35,000 shares of the business’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $6.72, for a total transaction of $235,200.00. Following the sale, the director now directly owns 15,348,914 shares in the company, valued at approximately $103,144,702.08. The disclosure for this sale can be found here. Insiders sold a total of 1,683,896 shares of company stock valued at $11,821,229 over the last three months. Corporate insiders own 72.90% of the company’s stock.

Hedge Funds Weigh In On Rumble

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Global Retirement Partners LLC raised its holdings in shares of Rumble by 1,100.0% during the 1st 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 in the last quarter. Newbridge Financial Services Group Inc. boosted its stake in Rumble by 1,270.0% during the first quarter. Newbridge Financial Services Group Inc. now owns 6,850 shares of the company’s stock worth $55,000 after buying an additional 6,350 shares during the period. Principal Securities Inc. bought a new stake in shares of Rumble in the 4th quarter worth about $32,000. Signaturefd LLC purchased a new stake in Rumble in the 4th quarter worth about $32,000. Finally, Solano Wealth Management Inc. bought a new stake in shares of Rumble during the 3rd quarter worth approximately $51,000. Institutional investors own 26.15% of the company’s stock.

Rumble Price Performance

Shares of RUM stock opened at $7.06 on Wednesday. The company has a market cap of $2.73 billion, a price-to-earnings ratio of -12.39 and a beta of 0.82. Rumble has a 1 year low of $3.33 and a 1 year high of $11.25. The firm has a fifty day moving average price of $7.02 and a 200-day moving average price of $5.83.

Rumble (NASDAQ:RUM) last released its earnings results on Wednesday, March 27th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.08. Rumble had a negative net margin of 143.79% and a negative return on equity of 38.52%. The company had revenue of $20.39 million for the quarter, compared to analysts’ expectations of $28.13 million. During the same quarter last year, the business earned ($0.06) EPS. The firm’s revenue was up 2.2% compared to the same quarter last year. Equities research analysts expect that Rumble will post -0.64 EPS for the current year.

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.