Rumble Inc (NASDAQ: RUM) In 2024: Will It Be Worth Investing In?

In the last trading session, 2.85 million shares of the Rumble Inc (NASDAQ:RUM) were traded, and its beta was 0.84. Most recently the company’s share price was $7.32, and it changed around $0.08 or 1.10% from the last close, which brings the market valuation of the company to $2.03B. RUM currently trades at a discount to its 52-week high of $11.25, offering almost -53.69% off that amount. The share price’s 52-week low was $3.33, which indicates that the current value has risen by an impressive 54.51% since then. We note from Rumble Inc’s average daily trading volume that its 10-day average is 4.8 million shares, with the 3-month average coming to 6.84 million.

Rumble Inc (NASDAQ:RUM) trade information

Instantly RUM has showed a green trend with a performance of 1.10% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently up 63.03% year-to-date, but still down -1.88% over the last five days. On the other hand, Rumble Inc (NASDAQ:RUM) is 10.74% up in the 30-day period. We can see from the shorts that 14.7 million shares have been sold at a short interest cover period of 3.69 day(s).

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The consensus price target as assigned by Wall Street analysts is $15, which translates to bulls needing to increase their stock price by 51.2% from its current value. Analyst projections state that RUM is forecast to be at a low of $15 and a high of $15.

Rumble Inc (RUM) estimates and forecasts

Rumble Inc share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 43.53 percent over the past six months and at a 0.00% annual growth rate that is well below the industry average of 19.80%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -35.70% in revenue this quarter, and will report a decrease of -6.70% in the next quarter. The year-over-year growth rate is expected to be 26.80%, up from the previous year.

Consensus estimates provided by 1 financial analysts predict the company will bring in an average of $18.27 million in revenue for the current quarter. 1 analysts expect Rumble Inc to make $25.65 million in revenue for the quarter ending Jun 2024. Analysts predict that the company’s current quarter sales will jump, forecast at 3.70%.

RUM Dividends

Rumble Inc’s next quarterly earnings report is expected to be released in May.

Rumble Inc (NASDAQ:RUM)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 29.01% of Rumble Inc shares, and 22.10% of them are in the hands of institutional investors. The stock currently has a share float of 31.13%. Rumble Inc stock is held by 156 institutions, with Cantor Fitzgerald, L. P. being the largest institutional investor. By Jun 29, 2023, it held 8.30% of the shares, which is about 9.33 million shares worth $83.24 million.

Vanguard Group Inc, with 5.55% or 6.25 million shares worth $55.71 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund were the top two Mutual Funds as of Jun 29, 2023. The former held 2.18 million shares worth $19.46 million, making up 1.94% of all outstanding shares. On the other hand, Vanguard Small-Cap Index Fund held roughly 1.73 million shares worth around $15.39 million, which represents about 1.53% of the total shares outstanding.