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

Rumble Inc. (NASDAQ:RUM) was the recipient of some unusual options trading activity on Thursday. Stock traders bought 19,217 call options on the company. This represents an increase of 173% compared to the average daily volume of 7,027 call options.

Rumble Stock Performance

Shares of NASDAQ RUM traded up $0.13 during midday trading on Thursday, hitting $8.46. 8,348,331 shares of the company traded hands, compared to its average volume of 2,523,174. Rumble has a 12-month low of $4.62 and a 12-month high of $10.99. The stock has a 50-day moving average price of $6.83 and a 200 day moving average price of $6.38. The firm has a market cap of $3.69 billion, a P/E ratio of -19.68 and a beta of 1.07.

Rumble (NASDAQ:RUM) last announced its earnings results on Thursday, March 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.02). The firm had revenue of $27.07 million during the quarter, compared to the consensus estimate of $27.09 million. Rumble had a negative return on equity of 42.47% and a negative net margin of 106.91%.The firm’s revenue was down 10.3% on a year-over-year basis. During the same period in the prior year, the company posted ($1.15) EPS. As a group, equities analysts expect that Rumble will post -0.22 earnings per share for the current year.

Hedge Funds Weigh In On Rumble

Several institutional investors and hedge funds have recently modified their holdings of RUM. Neo Ivy Capital Management bought a new stake in Rumble during the 3rd quarter valued at about $1,563,000. Monaco Asset Management SAM bought a new stake in Rumble in the 3rd quarter worth approximately $724,000. Vanguard Group Inc. increased its position in Rumble by 1.4% during the third quarter. Vanguard Group Inc. now owns 8,934,542 shares of the company’s stock valued at $64,686,000 after acquiring an additional 122,788 shares during the last quarter. Jones Financial Companies Lllp increased its position in shares of Rumble by 21.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 16,083 shares of the company’s stock valued at $115,000 after purchasing an additional 2,801 shares during the last quarter. Finally, Wedbush Securities Inc. purchased a new stake in Rumble during the third quarter valued at approximately $76,000. 26.15% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on RUM. Wall Street Zen raised Rumble from a “strong sell” rating to a “hold” rating in a report on Saturday, May 16th. Weiss Ratings raised Rumble from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, April 27th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

Rumble Company Profile

Rumble Inc operates a video-sharing platform designed to offer creators and audiences an alternative to traditional social media and streaming services. The company’s primary business activities include hosting, distributing and monetizing user–generated and professional video content. Through its platform, Rumble enables content creators to retain a higher share of advertising revenue and maintain greater control over their intellectual property, while offering viewers open access to a wide range of videos spanning news, sports, entertainment and educational programming.

In addition to its core video platform, Rumble provides cloud–based video hosting and delivery services via Rumble Cloud, a content–delivery network (CDN) designed to support high–volume streaming and storage.