Rumble Inc. (NASDAQ:RUM) Short Interest Update

Rumble Inc. (NASDAQ:RUM) was the recipient of a large decline in short interest in the month of April. As of April 15th, there was short interest totalling 12,500,000 shares, a decline of 14.3% from the March 31st total of 14,580,000 shares. Based on an average daily trading volume, of 6,220,000 shares, the short-interest ratio is presently 2.0 days. Approximately 19.1% of the company’s shares are sold short.

Wall Street Analyst Weigh In

Separately, Oppenheimer reaffirmed a “market perform” rating on shares of Rumble in a research note on Thursday, March 28th.

Rumble Stock Down 0.2 %

NASDAQ:RUM opened at $6.53 on Monday. Rumble has a twelve month low of $3.33 and a twelve month high of $11.25. The business has a 50 day moving average price of $7.03 and a two-hundred day moving average price of $5.81. The company has a market cap of $2.52 billion, a P/E ratio of -11.46 and a beta of 0.82.

Rumble (NASDAQ:RUM) last released its quarterly earnings results on Wednesday, March 27th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.08. Rumble had a negative return on equity of 38.52% and a negative net margin of 143.79%. The firm had revenue of $20.39 million during the quarter, compared to the consensus estimate of $28.13 million. During the same quarter in the prior year, the firm posted ($0.06) EPS. The business’s revenue was up 2.2% on a year-over-year basis. As a group, analysts anticipate that Rumble will post -0.64 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Brandon Alexandroff sold 900,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $7.00, for a total transaction of $6,300,000.00. Following the completion of the sale, the chief financial officer now directly owns 31,776 shares in the company, valued at $222,432. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Claudio Ramolo sold 300,000 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $7.18, for a total value of $2,154,000.00. Following the sale, the insider now owns 6,203 shares in the company, valued at approximately $44,537.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brandon Alexandroff sold 900,000 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $7.00, for a total transaction of $6,300,000.00. Following the transaction, the chief financial officer now owns 31,776 shares in the company, valued at approximately $222,432. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,683,896 shares of company stock worth $11,821,229. Company insiders own 72.90% of the company’s stock.

Institutional Investors Weigh In On Rumble

Several large investors have recently made changes to their positions in the stock. HighPoint Advisor Group LLC bought a new stake in Rumble in the 4th quarter valued at $499,000. Janney Montgomery Scott LLC raised its stake in Rumble by 69.8% in the 3rd quarter. Janney Montgomery Scott LLC now owns 109,126 shares of the company’s stock valued at $557,000 after acquiring an additional 44,863 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in Rumble by 15.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 56,025 shares of the company’s stock valued at $252,000 after acquiring an additional 7,647 shares during the period. PFG Advisors raised its stake in Rumble by 75.4% in the 4th quarter. PFG Advisors now owns 54,771 shares of the company’s stock valued at $246,000 after acquiring an additional 23,540 shares during the period. Finally, IPG Investment Advisors LLC bought a new stake in Rumble in the 3rd quarter valued at $231,000. Institutional investors and hedge funds own 26.15% of the company’s stock.

About Rumble

Rumble Inc operates video sharing platforms in the United States, Canada, and internationally. The company operates rumble.com, a free-to-use video sharing and livestreaming 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.