Rumble (NASDAQ:RUM) Shares Down 6.4% – Time to Sell?

Rumble Inc. (NASDAQ:RUM)’s stock price dropped 6.4% on Wednesday . The company traded as low as $7.83 and last traded at $7.8490. Approximately 532,581 shares were traded during mid-day trading, a decline of 82% from the average session volume of 2,907,737 shares. The stock had previously closed at $8.39.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on RUM shares. Wall Street Zen cut shares of Rumble from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Rumble in a research report on Friday, July 24th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of “Sell”.

Rumble Stock Performance

The stock has a 50-day moving average of $7.18 and a 200 day moving average of $6.77. 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 stock has a market capitalization of $3.65 billion, a price-to-earnings ratio of -12.47 and a beta of 1.21.

Rumble (NASDAQ:RUM) last released its earnings results on Monday, August 10th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.18). The business had revenue of $40.37 million for 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 revenue for the quarter was up 61.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.12) earnings per share. On average, analysts expect that Rumble Inc. will post -0.55 EPS for the current year.

Hedge Funds Weigh In On Rumble

Several large investors have recently bought and sold shares of the business. Cooper Creek Partners Management LLC grew its holdings 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 acquiring an additional 1,840,893 shares during the period. Corient Private Wealth LP bought a new stake in shares of Rumble during the 2nd quarter valued at $164,000. California State Teachers Retirement System lifted its stake in shares of Rumble by 627.5% in the 2nd quarter. California State Teachers Retirement System now owns 516,881 shares of the company’s stock valued at $3,277,000 after purchasing an additional 445,828 shares during the period. Handelsbanken Fonder AB lifted its stake in shares of Rumble by 38.1% in the 2nd quarter. Handelsbanken Fonder AB now owns 39,500 shares of the company’s stock valued at $250,000 after purchasing an additional 10,900 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Rumble by 0.5% in the 1st quarter. Bank of New York Mellon Corp now owns 322,245 shares of the company’s stock worth $1,643,000 after purchasing an additional 1,475 shares during the last quarter. 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.