Is Rumble Inc. (RUM) Price Targeted To Increase?


As of Friday close, Rumble Inc.’s (NASDAQ:RUM) stock was down -$0.13, moving down -1.61 percent to $7.96. The average number of shares traded per day over the past five days has been 1,941,200 shares. 2 times new highs have been achieved over the past 5 days, with a -$0.92 fall in that time frame. In the last twenty days, the average volume was 1,123,480, while in the previous 50 days, it was 1,063,286.

Since last month, RUM stock retreated -15.41%. Shares of the company fell to $7.72 on 03/02/23, the lowest level in the past month. A 52-week high of $17.23 was reached on 02/02/23 after having rallying from a 52-week low of $5.81. Since the beginning of this year, RUM’s stock price has risen by 33.78% or $2.01, and marked a new high 12 times. However, the stock has declined by -53.80% since its 52-week high.

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Financial Health

In the three months ended September 29, Rumble Inc.’s quick ratio stood at 26.90, while its current ratio was 26.90, showing that the company is able to pay off its debt.

RUM’s revenue rose 100.0% during the quarter, while net income inched up to $10.98 million. While analysts expected Rumble Inc. to report -$0.02 quarterly earnings, the actual figure was -$0.01 per share. During the quarter, the company generated -$7.79 million in EBITDA. The liabilities of Rumble Inc. were 40.53 million at the end of its most recent quarter ended September 29, and its total debt was $1.56 million. The value of shareholders’ equity is $384.91 million.

Technical Picture

This quick technical analysis looks at Rumble Inc.’s (RUM) price momentum. With a historical volatility rate of 85.21%, the RSI 9-day stood at 34.52% on 17 March.

With respect to its five-day moving average, the current Rumble Inc. price is down by -10.36% percent or -$0.92. At present, RUM shares trade -15.41% below its 20-day simple moving average and +9.34% percent above its 100-day simple moving average. However, the stock is currently trading approximately +19.52% above its SMA50 and -25.12% below its SMA200.

Stochastic coefficient K was 19.68% and Stochastic coefficient D was 36.11%, while ATR was 0.61. Given the Stochastic reading of 10.34% for the 14-day period, the RSI (14) reading has been calculated as 39.04%. As of today, the MACD Oscillator reading stands at -0.71, while the 14-day reading stands at -0.54.

Analyst Ratings

Oppenheimer launched its rating on Rumble Inc. (NASDAQ: RUM) to a Perform in a note to investors on December 02, 2022. Rumble Inc. (RUM) has been rated Overweight by analysts. According to 0 brokerage firms, RUM is a sell, and 1 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Rumble Inc. stock as buy, with 1 recommending it as overweight.

With a median target price of $15.00, the current consensus forecast for the stock is $15.00 – $15.00. Based on these forecasts, analysts predict Rumble Inc. (RUM) will achieve an average price target of $15.00.


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