Rumble Inc. (NASDAQ:RUM – Get Free Report)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $8.50, but opened at $8.00. Rumble shares last traded at $7.92, with a volume of 1,259,284 shares.
Wall Street Analyst Weigh In
Separately, Oppenheimer reissued a “market perform” rating on shares of Rumble in a research report on Thursday.
Read Our Latest Stock Analysis on RUM
Rumble Price Performance
Rumble (NASDAQ:RUM – Get Free Report) last posted its earnings results on Wednesday, March 27th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.08. The company had revenue of $20.39 million for the quarter, compared to analyst estimates of $28.13 million. Rumble had a negative net margin of 109.39% and a negative return on equity of 30.48%. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period last year, the business posted ($0.06) earnings per share. On average, research analysts anticipate that Rumble Inc. will post -0.63 EPS for the current fiscal year.
Institutional Investors Weigh In On Rumble
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. HighPoint Advisor Group LLC acquired a new stake in Rumble in the 4th quarter worth about $499,000. Goldman Sachs Group Inc. boosted its stake in shares of Rumble by 3,674.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 76,961 shares of the company’s stock valued at $346,000 after purchasing an additional 74,922 shares during the last quarter. Harbour Investments Inc. boosted its stake in shares of Rumble by 11.4% in the 4th quarter. Harbour Investments Inc. now owns 14,999 shares of the company’s stock valued at $67,000 after purchasing an additional 1,540 shares during the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of Rumble in the 4th quarter valued at $400,000. Finally, Northern Trust Corp boosted its stake in Rumble by 43.9% during the fourth quarter. Northern Trust Corp now owns 198,792 shares of the company’s stock worth $893,000 after acquiring an additional 60,685 shares in the last quarter. 26.15% of the stock is currently owned by institutional investors and hedge funds.
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.
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