Rumble Inc (NASDAQ:RUM) shares, rose in value, with the stock price down by -8.74% to the previous day’s close as strong demand from buyers drove the stock to $6.68.
Actively observing the price movement in the last trading, the stock closed the session at $7.32. The value of beta (5-year monthly) was 0.77. Referring to stock’s 52-week performance, its high was $11.25, and the low was $3.33. On the whole, RUM has fluctuated by -7.35% over the past month.
As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.19, which is expected to increase to -$0.16 for fiscal year -$0.64 and then to about -$0.25 by fiscal year 2025. Data indicates that the EPS growth is expected to be -10.30% in 2025, while the next year’s EPS growth is forecast to be 60.90%.
Analysts have estimated the company’s revenue for the quarter at $18.27 million, with a low estimate of $18.27 million and a high estimate of $18.27 million. According to the average forecast, sales growth in current quarter could jump up 3.70%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $102.63 million, representing an increase of 26.80% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that RUM’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium term indicators have put the stock in the category of 50% Buy while long term indicators on average have been pointing out that it is a 50% Buy.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of RUM currently trading nearly -11.64% and -6.40% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 42.88, while the 7-day volatility ratio is showing 10.43% which for the 30-day chart, stands at 10.18%. Furthermore, Rumble Inc (RUM)’s beta value is 0.85, and its average true range (ATR) is 0.72.
A comparison of Rumble Inc (RUM) with its peers suggests the former has fared considerably weaker in the market. RUM showed an intraday change of -8.74% in last session, and over the past year, it shrunk by -33.20%%.
Data on historical trading for Rumble Inc (NASDAQ:RUM) indicates that the trading volumes over the past 10 days have averaged 4.87 million and over the past 3 months, they’ve averaged 6.87 million. According to company’s latest data on outstanding shares, there are 114.93 million shares outstanding.
Nearly 76.90% of Rumble Inc’s shares belong to company insiders and institutional investors own 8.94% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 14.7 million shares as on Mar 15, 2024, resulting in a short ratio of 3.69. According to the data, the short interest in Rumble Inc (RUM) stood at 5.24% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 14.64 million. The stock has risen by 48.78% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the RUM stock heading into the next quarter.
