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

Rumble Inc. (NASDAQ:RUM - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $9.16, but opened at $9.62. Rumble shares last traded at $9.51, with a volume of 386,011 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Wedbush set a $8.00 price objective on Rumble and gave the stock a "neutral" rating in a research report on Tuesday, April 15th.

Rumble Stock Performance

The company has a market cap of $4.08 billion, a PE ratio of -14.96 and a beta of 0.69. The stock has a fifty day moving average of $8.23 and a 200-day moving average of $9.32.

Rumble (NASDAQ:RUM - Get Free Report) last posted its earnings results on Tuesday, March 25th. The company reported ($1.15) EPS for the quarter, missing the consensus estimate of ($0.13) by ($1.02). The company had revenue of $30.20 million for the quarter, compared to analyst estimates of $29.74 million. Rumble had a negative return on equity of 62.75% and a negative net margin of 152.81%. The firm's revenue for the quarter was up 48.0% compared to the same quarter last year. As a group, equities analysts anticipate that Rumble Inc. will post -0.62 EPS for the current fiscal year.

Hedge Funds Weigh In On Rumble

Institutional investors have recently modified their holdings of the business. IFP Advisors Inc boosted its position in shares of Rumble by 70.9% in the 4th quarter. IFP Advisors Inc now owns 2,000 shares of the company's stock valued at $26,000 after purchasing an additional 830 shares during the period. North Star Investment Management Corp. raised its holdings in Rumble by 60.0% during the first quarter. North Star Investment Management Corp. now owns 4,000 shares of the company's stock worth $28,000 after purchasing an additional 1,500 shares during the last quarter. Golden State Wealth Management LLC raised its holdings in Rumble by 28,571.4% during the first quarter. Golden State Wealth Management LLC now owns 4,014 shares of the company's stock worth $28,000 after purchasing an additional 4,000 shares during the last quarter. CWM LLC grew its position in shares of Rumble by 104.3% in the first quarter. CWM LLC now owns 4,395 shares of the company's stock valued at $31,000 after purchasing an additional 2,244 shares during the last quarter. Finally, Raleigh Capital Management Inc. grew its position in shares of Rumble by 8,900.0% in the first quarter. Raleigh Capital Management Inc. now owns 4,500 shares of the company's stock valued at $32,000 after purchasing an additional 4,450 shares during the last quarter. Institutional investors and hedge funds own 26.15% of the company's stock.

About Rumble

Rumble Inc operates video sharing platforms in the United States, Canada, and internationally. The company operates rumble.com, a free-to-use video sharing and livestreaming platform where users can subscribe to channels to stay in touch with creators, and access video on-demand (VOD) and live content streamed by creators.