Rumble Sees Unusually High Options Volume (NASDAQ:RUM)

Rumble Inc. (NASDAQ:RUM) was the recipient of some unusual options trading on Tuesday. Investors acquired 10,786 call options on the stock. This represents an increase of approximately 47% compared to the average daily volume of 7,327 call options.

Analyst Ratings Changes

Separately, Wedbush set a $8.00 price objective on shares of Rumble and gave the stock a “neutral” rating in a report on Tuesday, April 15th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Stratos Wealth Partners LTD. bought a new stake in Rumble during the fourth quarter worth approximately $183,000. Global Retirement Partners LLC purchased a new position in Rumble during the 4th quarter valued at $78,000. Sigma Planning Corp increased its stake in Rumble by 17.8% in the fourth quarter. Sigma Planning Corp now owns 26,332 shares of the company’s stock worth $343,000 after purchasing an additional 3,985 shares during the period. IFP Advisors Inc boosted its stake in shares of Rumble by 70.9% during the fourth quarter. IFP Advisors Inc now owns 2,000 shares of the company’s stock valued at $26,000 after purchasing an additional 830 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in shares of Rumble by 12.7% in the fourth quarter. Bank of New York Mellon Corp now owns 13,396 shares of the company’s stock worth $174,000 after purchasing an additional 1,510 shares during the last quarter. Institutional investors own 26.15% of the company’s stock.

Rumble Stock Performance

Shares of NASDAQ:RUM opened at $9.15 on Wednesday. The firm has a market cap of $3.97 billion, a price-to-earnings ratio of -14.52 and a beta of 0.75. The business has a 50-day simple moving average of $8.46 and a two-hundred day simple moving average of $9.52. Rumble has a fifty-two week low of $4.92 and a fifty-two week high of $17.40.

Rumble (NASDAQ:RUM) last announced its earnings results on Tuesday, March 25th. The company reported ($1.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($1.02). The business had revenue of $30.20 million for the quarter, compared to the consensus estimate of $29.74 million. Rumble had a negative net margin of 152.81% and a negative return on equity of 62.75%. The business’s revenue for the quarter was up 48.0% compared to the same quarter last year. As a group, research analysts predict that Rumble will post -0.62 earnings per share for the current year.

About Rumble

Rumble Inc operates video sharing platforms in the United States, Canada, and internationally. The company operates rumble.com, a free-to-use video sharing and livestreaming platform where users can subscribe to channels to stay in touch with creators, and access video on-demand (VOD) and live content streamed by creators.