Rumble (NASDAQ:RUM) Hits New 52-Week Low - Here's Why

Key Points

• Rumble shares fell to a new 52-week low, touching $4.60 during Thursday trading, down from the prior close of $5.11.
• Analyst sentiment is negative: MarketBeat reports a consensus Sell rating, with two Sell ratings and one Hold rating, and a $25 consensus price target.
• In its latest reported quarter, Rumble’s revenue rose 61% year over year to $40.37 million, topping estimates, but its loss per share of $0.28 was wider than the $0.10 loss analysts expected.

Shares of Rumble Inc. (NASDAQ:RUM - Get Free Report) reached a new 52-week low during mid-day trading on Thursday. The company traded as low as $4.60 and last traded at $4.6350, with a volume of 1,240,671 shares. The stock had previously closed at $5.11.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on RUM shares. Wall Street Zen lowered Rumble from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Rumble in a report on Thursday, October 22nd. Lake Street Capital assumed coverage on Rumble in a research report on Tuesday, October 6th. They issued a "hold" rating and a $25.00 price objective on the stock. Finally, Zacks Research lowered Rumble from a "hold" rating to a "strong sell" rating in a research note on Monday, October 12th. One analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Sell" and a consensus price target of $25.00.

Rumble Stock Performance

The company has a market cap of $2.31 billion, a P/E ratio of -7.89 and a beta of 1.35. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.25. The firm has a 50 day moving average of $7.32 and a 200-day moving average of $6.70.

Rumble (NASDAQ:RUM - Get Free Report) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.28) earnings per share 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 the consensus estimate 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 was up 61.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.12) earnings per share. As a group, sell-side analysts anticipate that Rumble Inc. will post -0.55 EPS for the current fiscal year.

Institutional Trading of Rumble

Several hedge funds and other institutional investors have recently made changes to their positions in RUM. Bank of New York Mellon Corp boosted its stake in 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 in the last quarter. Sigma Planning Corp grew its position in Rumble by 2.1% during the 1st quarter. Sigma Planning Corp now owns 162,699 shares of the company's stock worth $830,000 after purchasing an additional 3,349 shares during the last quarter. Sterling Capital Management LLC purchased a new stake in Rumble during the 3rd quarter worth approximately $36,000. Mather Group LLC. acquired a new position in Rumble during the 3rd quarter valued at approximately $45,000. Finally, Signaturefd LLC acquired a new position in Rumble during the 3rd quarter valued at approximately $60,000. Hedge funds and other institutional investors own 26.15% of the company's stock.

Rumble Company Profile

Rumble Inc operates a video-sharing and livestreaming platform that enables users and organizations to upload, watch, and distribute video content. The platform hosts user-generated videos, live broadcasts, podcasts, news programming, and other digital media, and generates revenue through advertising and related services.

The company also provides technology and cloud infrastructure services through Rumble Cloud, which is designed to support content hosting, storage, and distribution. Rumble has positioned its platform as an alternative to larger video and social-media services, emphasizing creator independence and free-expression policies.

Founded in 2013 by Chris Pavlovski, Rumble serves users and content creators internationally, with a significant audience in North America.

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