Rumble Inc. (NASDAQ: RUM) stock jumped 6.79% on Friday to $9.60 against a previous-day closing price of $8.98. With 1.14 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.03 million shares. During the session, the Software – Application company that operates in wider Technology sector, reached to the highest price of $9.90 whereas the lowest price it dropped to was $9.00. The 52-week range on RUM shows that it touched its highest point at $18.52 and its lowest point at $5.81 during that stretch. It currently has a 1-year price target of $15.00.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of RUM was up-trending over the past week, with a rise of 6.61%, but this was up by 31.26% over a month. Three-month performance surged to 17.59% while six-month performance fell -4.91%. The stock lost -23.97% in the past year, while it has gained 61.26% so far this year. For the next quarter, that number is -0.02. This implies an EPS growth rate of -968.50% for this year and 25.00% for next year.
Float and Shares Shorts:
At present, 384.91 million RUM shares are outstanding with a float of 135.97 million shares on hand for trading. On Oct 13, 2022, short shares totaled 2.66 million, which was 0.95% higher than short shares on. In addition to Mr. Christopher Pavlovski as the firm’s Founder, Chairman & CEO, Mr. Brandon Alexandroff serves as its Chief Financial Officer.
Through their ownership of 5.89% of RUM’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 2.50% of RUM, in contrast to 14.95% held by mutual funds. Shares owned by individuals account for 11.04%. As the largest shareholder in RUM with 10.06% of the stake, Cantor Fitzgerald & Co. holds 11,214,000 shares worth 11,214,000. A second-largest stockholder of RUM, Eminence Capital LP, holds 1,500,000 shares, controlling over 1.35% of the firm’s shares. JAT Capital Management LP is the third largest shareholder in RUM, holding 597,423 shares or 0.54% stake. With a 0.78% stake in RUM, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 873,200 shares are owned by the mutual fund manager. The Vanguard Small Cap Index Fund, which owns about 0.65% of RUM stock, is the second-largest Mutual Fund holder. It holds 718,652 shares valued at 4.28 million. Vanguard Small Cap Value Index Fu holds 0.23% of the stake in RUM, owning 251,192 shares worth 1.49 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for RUM since 2 analysts follow the stock currently. There are 1 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With RUM analysts setting a high price target of $15.00 and a low target of $15.00, the average target price over the next 12 months is $15.00. Based on these targets, RUM could surge 56.25% to reach the target high and rise by 56.25% to reach the target low. Reaching the average price target will result in a growth of 56.25% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. Analysts have provided yearly estimates in a range of -$0.10 being high and -$0.13 being low. For RUM, this leads to a yearly average estimate of -$0.12. Based on analyst estimates, the high estimate for the next quarter is -$0.01 and the low estimate is -$0.02. The average estimate for the next quarter is thus -$0.01.
Summary of Insider Activity:
Insiders traded RUM stock several times over the past three months with 10 Buys and 0 Sells. In these transactions, 143,630 shares were bought while 0 shares were sold. The number of buy transactions has increased to 16 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 11,377,630 while 0 shares were sold.