Rumble (NASDAQ:RUM) Shares Gap Up – Should You Buy?

Shares of Rumble Inc. (NASDAQ:RUM) gapped up prior to trading on Monday . The stock had previously closed at $7.17, but opened at $7.67. Rumble shares last traded at $8.2820, with a volume of 9,744,202 shares traded.

Analyst Upgrades and Downgrades

RUM has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rumble in a research report on Friday, July 24th. Wall Street Zen cut Rumble from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Rumble presently has a consensus rating of “Sell”.

Rumble Stock Performance

The business’s 50-day moving average price is $7.20 and its 200-day moving average price is $6.78. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.12 and a current ratio of 2.12. The stock has a market cap of $4.09 billion, a P/E ratio of -13.94 and a beta of 1.21.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada lifted its position in shares of Rumble by 136.7% during the 1st quarter. Royal Bank of Canada now owns 210,665 shares of the company’s stock valued at $1,490,000 after buying an additional 121,650 shares in the last quarter. AQR Capital Management LLC purchased a new stake in Rumble in the 1st quarter worth approximately $163,000. JPMorgan Chase & Co. raised its stake in Rumble by 24,888.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 37,483 shares of the company’s stock worth $337,000 after acquiring an additional 37,333 shares during the period. Legal & General Group Plc raised its stake in Rumble by 82.4% during the 2nd quarter. Legal & General Group Plc now owns 91,844 shares of the company’s stock worth $825,000 after acquiring an additional 41,490 shares during the period. Finally, Rhumbline Advisers purchased a new position in Rumble during the second quarter valued at approximately $1,041,000. Institutional investors own 26.15% of the company’s stock.

About Rumble

Rumble Inc operates a video-sharing and cloud services platform. Its flagship service enables users to upload, watch, and share video content, while providing creators with tools for audience engagement and monetization. The platform serves a broad range of users and content creators, with an emphasis on supporting independent publishers and offering an alternative to larger video-hosting services.

The company also provides digital infrastructure through Rumble Cloud, which offers cloud hosting and related services to businesses and organizations.