Rumble (NASDAQ:RUM) Trading Down 5.7% – Here’s Why

Rumble Inc. (NASDAQ:RUM)’s stock price was down 5.7% on Monday . The company traded as low as $8.42 and last traded at $8.4650. Approximately 532,354 shares changed hands during trading, a decline of 82% from the average daily volume of 2,900,469 shares. The stock had previously closed at $8.98.

Analyst Ratings Changes

RUM has been the topic of a number of recent research reports. Wall Street Zen lowered shares of Rumble from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Rumble in a report on Friday, July 24th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has a consensus rating of “Sell”.

Rumble Price Performance

The company has a debt-to-equity ratio of 0.25, a current ratio of 2.12 and a quick ratio of 2.12. The company has a 50 day moving average price of $6.89 and a 200 day moving average price of $6.65. The firm has a market cap of $4.23 billion, a PE ratio of -14.46 and a beta of 1.21.

Rumble (NASDAQ:RUM) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.18). The firm had revenue of $40.37 million during the quarter, compared to analyst estimates of $31.23 million. Rumble had a negative net margin of 134.60% and a negative return on equity of 22.77%. The business’s quarterly revenue was up 61.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.12) earnings per share. Sell-side analysts expect that Rumble Inc. will post -0.55 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in RUM. Cantor Fitzgerald L. P. lifted its position in Rumble by 26.5% in the fourth quarter. Cantor Fitzgerald L. P. now owns 9,326,205 shares of the company’s stock valued at $58,942,000 after purchasing an additional 1,951,768 shares during the period. Cooper Creek Partners Management LLC increased its position in Rumble by 54.1% during the 1st 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 period. California State Teachers Retirement System increased its position in Rumble by 627.5% during the 2nd quarter. California State Teachers Retirement System now owns 516,881 shares of the company’s stock worth $3,277,000 after purchasing an additional 445,828 shares during the period. Barclays PLC raised its stake in shares of Rumble by 177.8% during the 4th quarter. Barclays PLC now owns 417,454 shares of the company’s stock worth $2,638,000 after buying an additional 267,177 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new position in shares of Rumble during the 3rd quarter worth approximately $1,346,000. 26.15% of the stock is currently owned by institutional investors and hedge funds.

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.