Rumble Sees Unusually Large Options Volume (NASDAQ:RUM)

Rumble Inc. (NASDAQ:RUM) saw unusually large options trading activity on Thursday. Stock traders bought 19,217 call options on the company. This represents an increase of approximately 173% compared to the average volume of 7,027 call options.

Institutional Trading of Rumble

Hedge funds have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. purchased a new stake in Rumble during the fourth quarter valued at approximately $47,000. Daiwa Securities Group Inc. raised its stake in Rumble by 47.8% in the 4th quarter. Daiwa Securities Group Inc. now owns 9,254 shares of the company’s stock worth $58,000 after acquiring an additional 2,993 shares during the last quarter. State of Wyoming purchased a new position in shares of Rumble in the first quarter worth about $62,000. VestGen Advisors LLC purchased a new position in Rumble during the 4th quarter worth approximately $64,000. Finally, NewEdge Advisors LLC raised its holdings in shares of Rumble by 2,905.9% during the fourth quarter. NewEdge Advisors LLC now owns 10,250 shares of the company’s stock worth $65,000 after purchasing an additional 9,909 shares during the last quarter. 26.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on RUM shares. Wall Street Zen raised Rumble from a “strong sell” rating to a “hold” rating in a report on Saturday, May 16th. Weiss Ratings raised shares of 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, Rumble has an average rating of “Sell”.

Rumble Price Performance

Shares of NASDAQ:RUM traded up $0.13 during trading on Thursday, reaching $8.46. 8,348,331 shares of the company were exchanged, compared to its average volume of 2,523,174. The business’s fifty day simple moving average is $6.83 and its 200-day simple moving average is $6.38. The firm has a market capitalization of $3.69 billion, a PE ratio of -19.68 and a beta of 1.07. Rumble has a 12-month low of $4.62 and a 12-month high of $10.99.

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

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.