Rumble (NASDAQ:RUM) Sees Large Volume Increase - Should You Buy?

Key Points

• Rumble shares rose to $9.386 from a prior close of $9.05, while trading volume reached about 2.1 million shares—27% below the previous session.
• Analyst sentiment is negative: Weiss Ratings reiterated a “sell” rating, Wall Street Zen downgraded the stock to “sell,” and MarketBeat reports an average rating of “Sell.”
• Rumble’s quarterly revenue increased 61% year over year to $40.37 million, beating estimates, but its $0.28 per-share loss was wider than expected and the company continued to post deeply negative margins.

Shares of Rumble Inc. (NASDAQ:RUM - Get Free Report) saw unusually-high trading volume on Monday . Approximately 2,065,003 shares traded hands during trading, a decline of 27% from the previous session's volume of 2,809,809 shares.The stock last traded at $9.3860 and had previously closed at $9.05.

Analyst Ratings Changes

Several equities analysts recently issued reports on RUM shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of Rumble in a research report on Friday, July 24th. Wall Street Zen downgraded shares of 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, the company presently has an average rating of "Sell".

Rumble Stock Performance

The stock has a fifty day simple moving average of $6.60 and a 200-day simple moving average of $6.48. The stock has a market cap of $4.82 billion, a P/E ratio of -16.37 and a beta of 1.14. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.12 and a current ratio of 2.12.

Rumble (NASDAQ:RUM - Get Free Report) last issued its quarterly earnings results on Monday, August 10th. The company reported ($0.28) EPS for the quarter, missing analysts' consensus estimates 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 for the quarter was up 61.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.12) earnings per share. On average, equities analysts expect that Rumble Inc. will post -0.69 earnings per share for the current year.

Institutional Investors Weigh In On Rumble

Several institutional investors have recently bought and sold shares of RUM. California State Teachers Retirement System boosted 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 acquiring an additional 445,828 shares during the last quarter. Handelsbanken Fonder AB raised its holdings in shares of Rumble by 38.1% in the second 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 last quarter. Cooper Creek Partners Management LLC raised its holdings in shares of Rumble by 54.1% in the first quarter. Cooper Creek Partners Management LLC now owns 5,242,497 shares of the company's stock valued at $26,737,000 after purchasing an additional 1,840,893 shares during the last quarter. State of Wyoming bought a new stake in shares of Rumble in the first quarter worth $62,000. Finally, Bank of New York Mellon Corp lifted its position in shares of Rumble by 0.5% in the first 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. Institutional investors 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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