Rumble (NASDAQ:RUM) Stock Price Up 1.6% - Should You Buy?

Key Points

• Rumble shares rose 1.6% on Thursday, trading as high as $6.38 with volume below average at 1.41 million shares.
• Despite the price uptick, Wall Street sentiment remains weak: the stock carries a consensus rating of “Sell”, even after recent analyst upgrades from “strong sell” to “hold” and from “sell (e+)” to “sell (d-).”
• Rumble is positioning itself as more than a video platform, with its core business in user-generated video and a growing Rumble Cloud offering for video hosting, delivery, and streaming infrastructure.

Rumble Inc. (NASDAQ:RUM - Get Free Report) shares were up 1.6% during trading on Thursday . The company traded as high as $6.38 and last traded at $6.38. 1,412,083 shares traded hands during mid-day trading, a decline of 60% from the average session volume of 3,564,817 shares. The stock had previously closed at $6.28.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on RUM. Wall Street Zen raised Rumble from a "strong sell" rating to a "hold" rating in a research note on Saturday, May 16th. Weiss Ratings upgraded Rumble from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Monday, April 27th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has a consensus rating of "Sell".

Rumble Stock Performance

The stock's 50 day moving average price is $7.49 and its 200-day moving average price is $6.43. The company has a market cap of $2.78 billion, a PE ratio of -14.84 and a beta of 1.13.

Institutional Trading of Rumble

Several institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp increased its holdings 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 buying an additional 1,475 shares during the period. RIA Advisory Group LLC boosted its holdings in Rumble by 12.1% during the 3rd quarter. RIA Advisory Group LLC now owns 16,725 shares of the company's stock valued at $121,000 after acquiring an additional 1,800 shares during the period. Cetera Investment Advisers boosted its holdings in Rumble by 9.5% during the 4th quarter. Cetera Investment Advisers now owns 23,396 shares of the company's stock valued at $148,000 after acquiring an additional 2,032 shares during the period. Bank of America Corp DE grew its position in Rumble by 0.4% during the 2nd quarter. Bank of America Corp DE now owns 637,500 shares of the company's stock worth $5,725,000 after acquiring an additional 2,678 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its position in Rumble by 47.8% during the 4th quarter. Daiwa Securities Group Inc. now owns 9,254 shares of the company's stock worth $58,000 after acquiring an additional 2,993 shares during the last quarter. 26.15% of the stock is currently owned by hedge funds and other institutional investors.

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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