Rumble (NASDAQ:RUM) Trading Down 7.5% – Time to Sell?

Shares of Rumble Inc. (NASDAQ:RUM) were down 7.5% during trading on Tuesday . The company traded as low as $6.50 and last traded at $6.3850. Approximately 1,336,899 shares were traded during mid-day trading, a decline of 38% from the average daily volume of 2,144,852 shares. The stock had previously closed at $6.90.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Rumble in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Rumble Price Performance

The business’s 50 day moving average price is $5.47 and its 200 day moving average price is $6.20. The stock has a market capitalization of $2.84 billion, a P/E ratio of -20.39 and a beta of 0.71.

Rumble (NASDAQ:RUM) last announced its quarterly earnings results on Thursday, March 5th. The company reported ($0.13) EPS 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 the consensus estimate of $27.09 million. Rumble had a negative return on equity of 39.76% and a negative net margin of 81.32%.The business’s revenue was down 10.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($1.15) earnings per share. As a group, analysts forecast that Rumble Inc. will post -0.32 earnings per share for the current fiscal year.

Insider Activity

In other Rumble news, major shareholder Tether Global Investments Fund acquired 538,955 shares of the company’s stock in a transaction that occurred on Thursday, February 5th. The shares were bought at an average price of $5.41 per share, with a total value of $2,915,746.55. Following the completion of the acquisition, the insider owned 105,129,660 shares in the company, valued at $568,751,460.60. This represents a 0.52% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have purchased a total of 777,012 shares of company stock valued at $4,222,236 over the last quarter. Company insiders own 45.10% of the company’s stock.

Hedge Funds Weigh In On Rumble

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Virtu Financial LLC purchased a new position in shares of Rumble in the fourth quarter worth approximately $146,000. NewEdge Advisors LLC boosted its holdings in shares of Rumble by 2,905.9% in the fourth quarter. NewEdge Advisors LLC now owns 10,250 shares of the company’s stock worth $65,000 after buying an additional 9,909 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Rumble in the fourth quarter worth approximately $313,000. VestGen Advisors LLC purchased a new position in shares of Rumble in the fourth quarter worth approximately $64,000. Finally, Janus Henderson Group PLC boosted its holdings in shares of Rumble by 413.8% in the fourth quarter. Janus Henderson Group PLC now owns 176,447 shares of the company’s stock worth $1,115,000 after buying an additional 142,107 shares during the last quarter. Hedge funds and other institutional investors own 26.15% of the company’s stock.

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.