Rumble (NASDAQ:RUM) Stock Price Down 5.9%

Rumble Inc. (NASDAQ:RUM) was down 5.9% during trading on Friday . The stock traded as low as $7.88 and last traded at $7.88. Approximately 659,950 shares traded hands during mid-day trading, a decline of 49% from the average daily volume of 1,289,672 shares. The stock had previously closed at $8.37.

Wall Street Analyst Weigh In

Separately, DA Davidson cut their price objective on shares of Rumble from $15.00 to $12.00 in a research report on Tuesday, May 16th.

Rumble Price Performance

The stock has a market capitalization of $3.04 billion, a P/E ratio of -26.27 and a beta of 0.56. The stock’s fifty day moving average is $8.17 and its 200-day moving average is $8.86.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its stake in shares of Rumble by 12.7% in the second quarter. BlackRock Inc. now owns 1,738,498 shares of the company’s stock worth $15,507,000 after purchasing an additional 196,564 shares during the period. Sacks David O grew its holdings in Rumble by 30.3% in the 2nd quarter. Sacks David O now owns 1,060,459 shares of the company’s stock valued at $9,459,000 after buying an additional 246,498 shares during the last quarter. State Street Corp increased its position in Rumble by 236.7% in the 2nd quarter. State Street Corp now owns 946,213 shares of the company’s stock worth $8,440,000 after buying an additional 665,213 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Rumble by 1.9% during the second quarter. Geode Capital Management LLC now owns 916,879 shares of the company’s stock worth $8,179,000 after buying an additional 16,778 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in shares of Rumble in the first quarter worth $5,040,000. 6.47% of the stock is owned by institutional investors.

Rumble Company Profile

Rumble Inc operates video sharing platforms in the United States, Canada, and internationally. The company operates rumble.com, a 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. It also operates locals.com, a subscription platform for creators and subscribers to engage through VOD, podcasts, live chat, polls, and community discussions; and Rumble Advertising Center (RAC), an online advertising management exchange.