Rumble Inc. (NASDAQ:RUM) Short Interest Up 21.5% in February

Rumble Inc. (NASDAQ:RUM) was the recipient of a significant growth in short interest during the month of February. As of February 27th, there was short interest totaling 27,748,557 shares, a growth 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 currently 18.0 days. Approximately 21.3% of the company’s shares are short sold. Approximately 21.3% of the company’s shares are short sold. Based on an average daily volume of 1,541,109 shares, the short-interest ratio is currently 18.0 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Rumble in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $8.00.

Insider Activity at Rumble

In other news, major shareholder Tether Global Investments Fund purchased 538,955 shares of the stock in a transaction that occurred on Thursday, February 5th. The stock was bought at an average cost of $5.41 per share, for a total transaction of $2,915,746.55. Following the acquisition, the insider directly owned 105,129,660 shares of the company’s stock, valued at $568,751,460.60. This represents a 0.52% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders have acquired 777,012 shares of company stock valued at $4,222,236 over the last quarter. 70.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. purchased a new position in Rumble during the 3rd quarter valued at $28,000. Mather Group LLC. purchased a new stake in shares of Rumble in the 3rd quarter worth about $43,000. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Rumble during the 4th quarter valued at about $47,000. Ameritas Investment Partners Inc. purchased a new position in shares of Rumble during the second quarter valued at about $72,000. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Rumble during the second quarter valued at about $75,000. 26.15% of the stock is owned by hedge funds and other institutional investors.

Rumble Price Performance

RUM traded up $0.01 during midday trading on Monday, reaching $5.34. 690,642 shares of the company’s stock traded hands, compared to its average volume of 2,049,051. Rumble has a 52 week low of $4.67 and a 52 week high of $10.99. The firm has a fifty day moving average of $5.89 and a two-hundred day moving average of $6.59. The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of -16.70 and a beta of 0.70.

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

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.