In the last trading session, 5.81 million Rumble Inc. (NASDAQ:RUM) shares changed hands as the company’s beta touched 0.61. With the company’s per share price at $5.93 changed hands at -$0.86 or -12.67% during last session, the market valuation stood at $1.72B. RUM’s last price was a discount, traded about -190.56% off its 52-week high of $17.23. The share price had its 52-week low at $5.81, which suggests the last value was 2.02% up since then. When we look at Rumble Inc.’s average trading volume, we note the 10-day average is 1.4 million shares, with the 3-month average coming to 1.10 million.
Analysts gave the Rumble Inc. (RUM) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.50. If we narrow down to specifics, the data shows that 0 out of 2 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 1 recommended RUM as a Hold, 1 felt it is a Buy and 0 rated the stock as Underweight. Rumble Inc.’s EPS for the current quarter is expected to be -$0.17.
Rumble Inc. (NASDAQ:RUM) trade information
Instantly RUM was in red as seen at the end of in last trading. With action -14.18%, the performance over the past five days has been red. The drop to weekly highs of 7.22 on Monday, 09/18/23 subtracted -12.67% to the stock’s daily price. The company’s shares are showing year-to-date downside of -0.34%, with the 5-day performance at -14.18% in the red. However, in the 30-day time frame, Rumble Inc. (NASDAQ:RUM) is -18.09% down. Looking at the short shares, we see there were 11.29 million shares sold at short interest cover period of 10.45 days.
The consensus price target for the stock as assigned by Wall Street analysts is $10.00, meaning bulls need an upside of 40.7% from its current market value. According to analyst projections, RUM’s forecast low is $10.00 with $10.00 as the target high. To hit the forecast high, the stock’s price needs a -68.63% plunge from its current level, while the stock would need to soar -68.63% for it to hit the projected low.
Rumble Inc. (RUM) estimates and forecasts
Data shows that the Rumble Inc. share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -25.50% over the past 6 months, a -441.67% in annual growth rate that is considerably lower than the industry average of 22.00%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Rumble Inc. will fall -1,600.00%. Year-over-year growth is forecast to reach 148.60% up from the last financial year.
Consensus estimates given by 2 financial analysts project the company’s revenue in the current quarter to hit an average of $25.38 million. 2 analysts are of the opinion that Rumble Inc.’s revenue for the quarter ending Dec 2023 will be $29.94 million. The company’s revenue for the corresponding quarters a year ago was $10.98 million and $19.96 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 131.10%. The estimates for the next quarter sales put growth at 50.00%.
The 2023 estimates are for Rumble Inc. earnings to decrease by -2.00%.
Rumble Inc. is expected to release its next quarterly earnings report in October.
Rumble Inc. (NASDAQ:RUM)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 29.98% of Rumble Inc. shares while 19.50% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 27.85%. There are 19.50% institutions holding the Rumble Inc. stock share, with Cantor Fitzgerald, L. P. the top institutional holder. As of Jun 29, 2023, the company held 8.30% of the shares, roughly 9.33 million RUM shares worth $83.24 million.
Vanguard Group Inc holds the second largest percentage of outstanding shares, with 5.55% or 6.25 million shares worth $55.71 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund. With 2.18 million shares estimated at $19.46 million under it, the former controlled 1.94% of total outstanding shares. On the other hand, Vanguard Small-Cap Index Fund held about 1.53% of the shares, roughly 1.73 million shares worth around $15.39 million.