Rumble Inc. (NASDAQ:RUM) Short Interest Update

Rumble Inc. (NASDAQ:RUM) was the target of a large decrease in short interest in December. As of December 31st, there was short interest totalling 10,990,000 shares, a decrease of 27.1% from the December 15th total of 15,070,000 shares. Based on an average daily trading volume, of 6,360,000 shares, the short-interest ratio is presently 1.7 days. Approximately 14.8% of the shares of the stock are short sold.

Insider Transactions at Rumble

In related news, Director Robert Arsov sold 27,500 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $5.69, for a total transaction of $156,475.00. Following the completion of the sale, the director now owns 12,577,337 shares in the company, valued at $71,565,047.53. This trade represents a 0.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In the last ninety days, insiders sold 114,988 shares of company stock valued at $701,617. Corporate insiders own 72.90% of the company’s stock.

Hedge Funds Weigh In On Rumble

Hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC raised its position in shares of Rumble by 14.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,035,718 shares of the company’s stock valued at $5,553,000 after acquiring an additional 130,956 shares during the last quarter. MML Investors Services LLC acquired a new stake in shares of Rumble during the third quarter worth $185,000. Janus Henderson Group PLC bought a new stake in Rumble in the third quarter valued at about $184,000. Total Clarity Wealth Management Inc. acquired a new position in Rumble in the second quarter valued at about $161,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Rumble by 5.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 478,317 shares of the company’s stock worth $2,564,000 after buying an additional 24,879 shares during the last quarter. 26.15% of the stock is owned by institutional investors.

Analysts Set New Price Targets

RUM has been the subject of several recent analyst reports. Maxim Group began coverage on shares of Rumble in a report on Wednesday. They set a “buy” rating and a $20.00 price objective for the company. Wedbush reaffirmed a “neutral” rating and set a $8.00 price target on shares of Rumble in a report on Wednesday, November 13th.

Rumble Trading Up 6.6 %

NASDAQ RUM traded up $0.67 on Wednesday, hitting $10.88. 3,573,949 shares of the company were exchanged, compared to its average volume of 4,777,284. Rumble has a 1-year low of $3.37 and a 1-year high of $17.40. The firm has a 50 day moving average of $8.99 and a two-hundred day moving average of $6.93. The company has a market cap of $4.24 billion, a P/E ratio of -17.27 and a beta of 0.52.

Rumble (NASDAQ:RUM) last announced its earnings results on Tuesday, November 12th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). Rumble had a negative return on equity of 62.75% and a negative net margin of 152.81%. The company had revenue of $25.06 million for the quarter, compared to analyst estimates of $29.25 million. During the same quarter in the previous year, the company posted ($0.14) earnings per share. Research analysts anticipate that Rumble will post -0.62 EPS for the current fiscal year.

Rumble Company Profile

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.