Rumble Inc (NASDAQ:RUM) price on Thursday, February 27, fall -1.18% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $9.18.
A look at the stock’s price movement, the close in the last trading session was $9.29. Turning to its 52-week performance, $17.40 and $4.92 were the 52-week high and 52-week low respectively. Overall, RUM moved -27.14% over the past month.
Rumble Inc’s market cap currently stands at around $5.59 billion, with investors looking forward to this quarter’s earnings report slated for in March.
Analysts have a consensus estimate of 29.73M for the company’s revenue for the quarter, with a low and high estimate of 28.21M and 32.6M respectively. The average forecast suggests up to a 45.82% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 95.01M, representing a 17.35% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that RUM is a Hold. On the other hand, the stock is on average a 50% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
2 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 1 analyst(s) rate the stock as a Hold, 1 recommend RUM as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
RUM’s current price about -19.39% and -20.94% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 32.63, while 7-day volatility ratio is 7.29% and 7.21% in the 30-day chart. Further, Rumble Inc (RUM) has a beta value of 0.57, and an average true range (ATR) of 0.91. Analysts have given the company’s stock an average 52-week price target of $15, forecast between a low of $15 and high of $15. Looking at the price targets, the low is -63.4% off current price level while to achieve the yearly target high, price needs to move -63.4%. Nonetheless, investors will most likely welcome a -63.4% jump to $15 which is the analysts’ median price.
If we refocus on Rumble Inc (NASDAQ:RUM), historical trading data shows that trading volumes averaged 6.70 million over the past 3 months. The company’s latest data on shares outstanding shows there are 503.39 million shares.
The 38.25% of Rumble Inc’s shares are in the hands of company insiders while institutional holders own 6.73% of the company’s shares. Current price change has pushed the stock -29.44% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the RUM stock continues to rise going into the next quarter.
