Rumble (NASDAQ:RUM) Shares Down 2.9%

Rumble Inc. (NASDAQ:RUM – Get Rating) shares were down 2.9% during mid-day trading on Friday . The company traded as low as $9.42 and last traded at $9.63. Approximately 677,503 shares traded hands during trading, a decline of 49% from the average daily volume of 1,336,036 shares. The stock had previously closed at $9.92.

Analysts Set New Price Targets

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

Rumble Price Performance

The business has a fifty day simple moving average of $9.13 and a 200 day simple moving average of $9.01.

Institutional Investors Weigh In On Rumble

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Cantor Fitzgerald L. P. acquired a new position in shares of Rumble during the 3rd quarter worth $137,372,000. Eminence Capital LP purchased a new stake in Rumble during the 3rd quarter worth about $18,375,000. BlackRock Inc. increased its position in Rumble by 430.6% during the 1st quarter. BlackRock Inc. now owns 1,541,934 shares of the company’s stock worth $15,419,000 after purchasing an additional 1,251,322 shares in the last quarter. Geode Capital Management LLC increased its position in Rumble by 543.5% during the 1st quarter. Geode Capital Management LLC now owns 900,101 shares of the company’s stock worth $9,001,000 after purchasing an additional 760,223 shares in the last quarter. Finally, JAT Capital Mgmt LP purchased a new stake in Rumble during the 3rd quarter worth about $7,318,000.

About Rumble

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Rumble Inc operates video sharing platforms. The company operates rumble.com, a platform that enables video creators to host, livestream, manage, distribute, and create OTT feeds, as well as monetize their content. It also operates locals.com, a subscription-based video sharing platform. The company was founded in 2013 and is based in Longboat Key, Florida.