Rumble (NASDAQ:RUM) Shares Up 8.5% - What's Next?

Key Points

• Rumble shares jumped 8.5% to about $10.16, although trading volume was 36% below the average daily volume.
• Analyst sentiment remains bearish: Weiss Ratings reiterated a “sell” rating, Wall Street Zen downgraded the stock to “sell,” and MarketBeat lists an overall “Sell” consensus.
• Rumble’s latest quarterly revenue rose 61% year over year to $40.37 million, exceeding estimates, but the company missed on earnings with a loss of $0.28 per share versus the expected $0.10 loss.

Rumble Inc. (NASDAQ:RUM - Get Free Report)'s stock price shot up 8.5% during trading on Tuesday . The stock traded as high as $10.18 and last traded at $10.16. 1,824,769 shares were traded during mid-day trading, a decline of 36% from the average daily volume of 2,844,096 shares. The stock had previously closed at $9.36.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of Rumble in a research report on Friday, July 24th. Wall Street Zen cut shares of Rumble from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average rating of "Sell".

Rumble Stock Up 10.0%

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 firm has a market capitalization of $5.11 billion, a P/E ratio of -17.41 and a beta of 1.14. The firm's fifty day moving average price is $6.63 and its 200-day moving average price is $6.51.

Rumble (NASDAQ:RUM - Get Free Report) last announced its earnings results on Monday, August 10th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.18). The firm had revenue of $40.37 million for the quarter, compared to the consensus estimate of $31.23 million. Rumble had a negative return on equity of 22.77% and a negative net margin of 134.60%.Rumble's revenue for the quarter was up 61.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.12) EPS. As a group, equities research analysts forecast that Rumble Inc. will post -0.69 earnings per share for the current year.

Institutional Investors Weigh In On Rumble

A number of institutional investors and hedge funds have recently modified their holdings of RUM. Cooper Creek Partners Management LLC boosted its stake in Rumble by 54.1% in 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. Handelsbanken Fonder AB increased its position in Rumble by 38.1% in the 2nd quarter. Handelsbanken Fonder AB now owns 39,500 shares of the company's stock worth $250,000 after purchasing an additional 10,900 shares during the last quarter. State of Wyoming bought a new position in Rumble during the first quarter valued at approximately $62,000. Bank of New York Mellon Corp raised its holdings in shares of Rumble by 0.5% during the 1st quarter. Bank of New York Mellon Corp now owns 322,245 shares of the company's stock valued at $1,643,000 after purchasing an additional 1,475 shares in the last quarter. Finally, Hsbc Holdings PLC acquired a new stake in shares of Rumble in the first quarter worth about $81,000. Institutional investors and hedge funds 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.

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