Rumble Inc (NASDAQ: RUM) stock jumped 8.35% on Friday to $5.06 against a previous-day closing price of $4.67. With 1.14 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.29 million shares. During the session, the Software – Application company that operates in wider Technology sector, reached to the highest price of $5.11 whereas the lowest price it dropped to was $4.67. The 52-week range on RUM shows that it touched its highest point at $11.25 and its lowest point at $4.33 during that stretch. It currently has a 1-year price target of $6.00. Beta for the stock currently stands at 0.83.
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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 7.89%, but this was down by -4.35% over a month. Three-month performance dropped to -27.40% while six-month performance fell -47.84%. The stock lost -52.26% in the past year, while it has lost -14.96% so far this year. A look at the trailing 12-month EPS for RUM yields -0.44 with Next year EPS estimates of -0.48. For the next quarter, that number is -0.21. This implies an EPS growth rate of -1190.00% for this year and 24.81% for next year.
Float and Shares Shorts:
At present, 111.47 million RUM shares are outstanding with a float of 29.81 million shares on hand for trading. On Oct 30, 2023, short shares totaled 9.43 million, which was 3.27% higher than short shares on Sep 28, 2023. In addition to Mr. Christopher Pavlovski as the firm’s Founder, Chairman & CEO, Dr. Tyler Hughes serves as its Chief Operating Officer.
Institutional Ownership:
Other institutions hold 7.73% of RUM, in contrast to 16.23% held by mutual funds. Shares owned by individuals account for 14.63%. As the largest shareholder in RUM with 8.30% of the stake, Cantor Fitzgerald & Co. holds 9,332,035 shares worth 9,332,035. A second-largest stockholder of RUM, The Vanguard Group, Inc., holds 6,007,845 shares, controlling over 5.34% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in RUM, holding 1,735,015 shares or 1.54% stake. With a 1.94% stake in RUM, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 2,181,400 shares are owned by the mutual fund manager. The Vanguard Small Cap Index Fund, which owns about 1.41% of RUM stock, is the second-largest Mutual Fund holder. It holds 1,589,745 shares valued at 7.14 million. Vanguard Extended Market Index Fu holds 0.99% of the stake in RUM, owning 1,115,852 shares worth 5.01 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for RUM since 0 analysts follow the stock currently. 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 $6.00 and a low target of $6.00, the average target price over the next 12 months is $6.00. Based on these targets, RUM could surge 18.58% to reach the target high and rise by 18.58% to reach the target low. Reaching the average price target will result in a growth of 18.58% from current levels.
Summary of Insider Activity:
Insiders traded RUM stock several times over the past three months with 0 Buys and 1 Sells. In these transactions, 0 shares were bought while 196,277 shares were sold. The number of buy transactions has increased to 14 while that of sell transactions has risen to 7 over the past year. The total number of shares bought during that period was 378,590 while 242,733 shares were sold.
