Investors Purchase High Volume of Rumble Call Options (NASDAQ:RUM)

Rumble Inc. (NASDAQ:RUM) was the target of some unusual options trading activity on Wednesday. Stock traders bought 25,642 call options on the stock. This represents an increase of 182% compared to the average volume of 9,101 call options.

Institutional Investors Weigh In On Rumble

A number of institutional investors have recently bought and sold shares of the stock. Cooper Creek Partners Management LLC raised its stake in Rumble by 54.1% during the first quarter. Cooper Creek Partners Management LLC now owns 5,242,497 shares of the company’s stock worth $26,737,000 after purchasing an additional 1,840,893 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Rumble by 0.5% during the 1st quarter. Bank of New York Mellon Corp now owns 322,245 shares of the company’s stock valued at $1,643,000 after buying an additional 1,475 shares during the period. Sigma Planning Corp grew its stake in shares of Rumble by 2.1% during the 1st quarter. Sigma Planning Corp now owns 162,699 shares of the company’s stock valued at $830,000 after buying an additional 3,349 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Rumble by 21.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 72,661 shares of the company’s stock valued at $549,000 after buying an additional 12,989 shares during the period. Finally, Silver Oak Securities Incorporated acquired a new stake in shares of Rumble during the 3rd quarter worth $341,000. 26.15% of the stock is currently owned by hedge funds and other institutional investors.

Rumble Trading Up 16.4%

NASDAQ:RUM traded up $0.84 during mid-day trading on Wednesday, reaching $5.95. The company’s stock had a trading volume of 5,628,249 shares, compared to its average volume of 3,313,471. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.12 and a quick ratio of 2.12. The stock has a market cap of $2.95 billion, a P/E ratio of -10.13 and a beta of 1.35. The company’s fifty day simple moving average is $6.98 and its two-hundred day simple moving average is $6.67. Rumble has a twelve month low of $4.49 and a twelve month high of $10.60.

Rumble (NASDAQ:RUM) last posted its quarterly earnings data on Wednesday, November 11th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.08). Rumble had a negative net margin of 134.60% and a negative return on equity of 22.77%. The company’s quarterly revenue was up 289.5% compared to the same quarter last year. During the same quarter last year, the company posted ($0.06) EPS. On average, equities analysts predict that Rumble will post -0.55 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on RUM. Lake Street Capital assumed coverage on Rumble in a research report on Tuesday, October 6th. They set a “hold” rating and a $25.00 price objective for the company. Wall Street Zen cut Rumble from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Zacks Research downgraded Rumble from a “hold” rating to a “strong sell” rating in a research report on Monday, October 12th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Rumble in a research report on Thursday, October 22nd. One analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Rumble has an average rating of “Sell” and a consensus target price of $25.00.

Rumble Company Profile

Rumble Inc. operates a video-sharing platform where users can upload, watch and share videos. The company also offers live-streaming tools and services that help creators publish and monetize content, including through advertising and subscriptions. Founded in 2013 by Chris Pavlovski, Rumble has expanded beyond video distribution into cloud computing. Its Rumble Cloud business provides infrastructure services to organizations seeking alternatives to larger cloud providers. The company serves creators, viewers and business customers in multiple countries, with a substantial presence in North America.