Rumble Inc. (NASDAQ:RUM) Short Interest Update

Rumble Inc. (NASDAQ:RUM) saw a large increase in short interest in February. As of February 27th, there was short interest totaling 27,748,557 shares, an increase of 21.5% from the February 12th total of 22,835,738 shares. Based on an average daily volume of 1,541,109 shares, the short-interest ratio is presently 18.0 days. Approximately 21.3% of the company’s shares are sold short. Approximately 21.3% of the company’s shares are sold short. Based on an average daily volume of 1,541,109 shares, the short-interest ratio is presently 18.0 days.

Rumble Stock Performance

RUM stock opened at $5.45 on Wednesday. The stock’s 50 day simple moving average is $5.84 and its 200 day simple moving average is $6.57. The company has a market cap of $2.37 billion, a P/E ratio of -17.03 and a beta of 0.70. Rumble has a fifty-two week low of $4.67 and a fifty-two week high of $10.99.

Rumble (NASDAQ:RUM) last announced its quarterly earnings data on Thursday, March 5th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). The firm had revenue of $27.07 million during the quarter, compared to analyst estimates of $27.09 million. Rumble had a negative net margin of 81.32% and a negative return on equity of 39.76%. The company’s revenue was down 10.3% on a year-over-year basis. During the same period last year, the business posted ($1.15) EPS. Equities analysts predict that Rumble will post -0.62 earnings per share for the current year.

Insider Buying and Selling

In other Rumble news, major shareholder Tether Global Investments Fund bought 44,355 shares of the stock in a transaction on Friday, February 6th. The stock was acquired at an average cost of $5.48 per share, for a total transaction of $243,065.40. Following the completion of the acquisition, the insider owned 105,174,015 shares in the company, valued at $576,353,602.20. This trade represents a 0.04% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Insiders purchased a total of 777,012 shares of company stock worth $4,222,236 over the last ninety days. Company insiders own 70.10% of the company’s stock.

Institutional Trading of Rumble

Several hedge funds have recently bought and sold shares of the business. Virtu Financial LLC acquired a new position in Rumble during the fourth quarter worth $146,000. NewEdge Advisors LLC lifted its stake in shares of Rumble by 2,905.9% in the fourth quarter. NewEdge Advisors LLC now owns 10,250 shares of the company’s stock valued at $65,000 after buying an additional 9,909 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Rumble in the fourth quarter valued at $313,000. VestGen Advisors LLC acquired a new position in shares of Rumble during the fourth quarter valued at about $64,000. Finally, Janus Henderson Group PLC increased its position in shares of Rumble by 413.8% during the fourth quarter. Janus Henderson Group PLC now owns 176,447 shares of the company’s stock worth $1,115,000 after acquiring an additional 142,107 shares in the last quarter. Institutional investors and hedge funds own 26.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Rumble in a report on Thursday, January 22nd. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $8.00.

About Rumble

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.