Investors Buy Large Volume of Rumble Call Options (NASDAQ:RUM)

Rumble Inc. (NASDAQ:RUM) was the target of unusually large options trading activity on Friday. Stock investors acquired 12,766 call options on the stock. This represents an increase of approximately 72% compared to the average daily volume of 7,412 call options.

Institutional Investors Weigh In On Rumble

Several large investors have recently modified their holdings of the stock. Golden State Wealth Management LLC lifted its holdings in shares of Rumble by 28,571.4% during the first quarter. Golden State Wealth Management LLC now owns 4,014 shares of the company’s stock worth $28,000 after purchasing an additional 4,000 shares during the period. North Star Investment Management Corp. lifted its stake in shares of Rumble by 60.0% in the 1st quarter. North Star Investment Management Corp. now owns 4,000 shares of the company’s stock worth $28,000 after acquiring an additional 1,500 shares during the period. CWM LLC boosted its holdings in shares of Rumble by 104.3% in the first quarter. CWM LLC now owns 4,395 shares of the company’s stock valued at $31,000 after acquiring an additional 2,244 shares in the last quarter. Raleigh Capital Management Inc. boosted its holdings in shares of Rumble by 8,900.0% in the first quarter. Raleigh Capital Management Inc. now owns 4,500 shares of the company’s stock valued at $32,000 after acquiring an additional 4,450 shares in the last quarter. Finally, AlphaQuest LLC increased its stake in shares of Rumble by 711.8% during the first quarter. AlphaQuest LLC now owns 7,095 shares of the company’s stock worth $50,000 after acquiring an additional 6,221 shares during the period. Hedge funds and other institutional investors own 26.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Rumble in a research report on Saturday, September 27th. Wall Street Zen lowered Rumble from a “hold” rating to a “sell” rating in a report on Saturday, August 16th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $14.00.

Rumble Stock Performance

NASDAQ RUM opened at $8.56 on Friday. The firm’s fifty day moving average is $7.71 and its two-hundred day moving average is $8.29. Rumble has a one year low of $5.20 and a one year high of $17.40. The firm has a market cap of $3.72 billion, a PE ratio of -5.99 and a beta of 0.69.

Rumble (NASDAQ:RUM) last released its quarterly earnings results on Sunday, August 10th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.06). The company had revenue of $25.09 million for the quarter, compared to analysts’ expectations of $26.78 million. Rumble had a negative return on equity of 97.99% and a negative net margin of 289.37%.Rumble’s quarterly revenue was up 11.6% compared to the same quarter last year. 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.