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

Rumble Inc. (NASDAQ:RUM)’s share price gapped up before the market opened 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 traded.

Analyst Ratings Changes

A number of research firms have recently weighed in on RUM. Weiss Ratings raised Rumble from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, April 27th. Wall Street Zen raised Rumble from a “strong sell” rating to a “hold” rating in a report on Saturday, May 16th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has an average rating of “Sell”.

Rumble Stock Up 3.0%

The stock has a market cap of $3.74 billion, a PE ratio of -20.22 and a beta of 1.07. The firm has a fifty day moving average of $6.83 and a 200 day moving average of $6.38.

Rumble (NASDAQ:RUM) last issued its quarterly earnings data on Thursday, March 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.02). The firm had revenue of $27.07 million for the quarter, compared to analysts’ expectations of $27.09 million. Rumble had a negative return on equity of 42.47% and a negative net margin of 106.91%.The business’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.15) EPS. On average, equities research analysts forecast that Rumble Inc. will post -0.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Rumble

Several hedge funds have recently made changes to their positions in the company. Cantor Fitzgerald L. P. grew its holdings in shares of Rumble by 26.5% during the fourth quarter. Cantor Fitzgerald L. P. now owns 9,326,205 shares of the company’s stock worth $58,942,000 after purchasing an additional 1,951,768 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Rumble by 1.4% during the third quarter. Vanguard Group Inc. now owns 8,934,542 shares of the company’s stock worth $64,686,000 after purchasing an additional 122,788 shares during the last quarter. Cooper Creek Partners Management LLC grew its holdings in shares of Rumble by 54.1% during the first quarter. Cooper Creek Partners Management LLC now owns 5,242,497 shares of the company’s stock worth $26,737,000 after purchasing an additional 1,840,893 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Rumble by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 2,821,230 shares of the company’s stock worth $17,834,000 after purchasing an additional 78,303 shares during the last quarter. Finally, UBS Group AG grew its holdings in shares of Rumble by 4.6% during the third quarter. UBS Group AG now owns 1,064,072 shares of the company’s stock worth $7,704,000 after purchasing an additional 46,925 shares during the last quarter. Hedge funds and other institutional investors own 26.15% of the company’s stock.

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.