Rumble Inc. (NASDAQ:RUM) Short Interest Update

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

Insider Activity

In other Rumble news, CTO Wojciech Hlibowicki sold 275,000 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $7.20, for a total value of $1,980,000.00. Following the completion of the sale, the chief technology officer now owns 31,776 shares in the company, valued at approximately $228,787.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Rumble news, CTO Wojciech Hlibowicki sold 275,000 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $7.20, for a total transaction of $1,980,000.00. Following the transaction, the chief technology officer now owns 31,776 shares of the company’s stock, valued at $228,787.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David O. Sacks sold 133,896 shares of the company’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $6.45, for a total value of $863,629.20. Following the completion of the sale, the director now owns 3,390 shares of the company’s stock, valued at $21,865.50. The disclosure for this sale can be found here. Insiders sold 1,683,896 shares of company stock worth $11,821,229 over the last three months. Insiders own 72.90% of the company’s stock.

Institutional Investors Weigh In On Rumble

Institutional investors have recently made changes to their positions in the stock. HighPoint Advisor Group LLC acquired a new stake in shares of Rumble in the fourth quarter valued at $499,000. IPG Investment Advisors LLC acquired a new position in shares of Rumble in the third quarter valued at approximately $231,000. Janney Montgomery Scott LLC increased its stake in Rumble by 69.8% during the 3rd quarter. Janney Montgomery Scott LLC now owns 109,126 shares of the company’s stock worth $557,000 after buying an additional 44,863 shares during the period. Foundations Investment Advisors LLC acquired a new stake in Rumble during the 4th quarter worth approximately $152,000. Finally, PFG Advisors boosted its position 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 buying an additional 23,540 shares during the period. 26.15% of the stock is currently owned by institutional investors and hedge funds.

Rumble Stock Performance

Shares of Rumble stock opened at $6.93 on Tuesday. The stock has a 50 day moving average of $7.02 and a 200 day moving average of $5.82. The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of -12.16 and a beta of 0.82. Rumble has a fifty-two week low of $3.33 and a fifty-two week high of $11.25.

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. The business had revenue of $20.39 million during the quarter, compared to analysts’ expectations of $28.13 million. Rumble had a negative return on equity of 38.52% and a negative net margin of 143.79%. The company’s revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.06) EPS. Analysts forecast that Rumble will post -0.64 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Oppenheimer reiterated a “market perform” rating on shares of Rumble in a report on Thursday, March 28th.

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.