Rumble Sees Unusually High Options Volume (NASDAQ:RUM)

Rumble Inc. (NASDAQ:RUM) was the recipient of unusually large options trading activity on Monday. Stock investors purchased 26,467 call options on the company. This represents an increase of approximately 322% compared to the typical daily volume of 6,269 call options.

Institutional Trading of Rumble

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp increased its stake in 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 purchasing an additional 1,475 shares in the last quarter. RIA Advisory Group LLC increased its stake in Rumble by 12.1% during the 3rd quarter. RIA Advisory Group LLC now owns 16,725 shares of the company’s stock valued at $121,000 after purchasing an additional 1,800 shares in the last quarter. Cetera Investment Advisers increased its stake in Rumble by 9.5% during the 4th quarter. Cetera Investment Advisers now owns 23,396 shares of the company’s stock valued at $148,000 after purchasing an additional 2,032 shares in the last quarter. ProShare Advisors LLC increased its stake in Rumble by 12.9% during the 3rd quarter. ProShare Advisors LLC now owns 18,248 shares of the company’s stock valued at $132,000 after purchasing an additional 2,091 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in Rumble by 0.4% during the 2nd quarter. Bank of America Corp DE now owns 637,500 shares of the company’s stock valued at $5,725,000 after purchasing an additional 2,678 shares in the last quarter. Institutional investors own 26.15% of the company’s stock.

Rumble Price Performance

Shares of Rumble stock traded up $0.30 during trading on Monday, reaching $7.50. 2,539,377 shares of the company traded hands, compared to its average volume of 2,406,583. Rumble has a 1-year low of $4.62 and a 1-year high of $10.99. The company has a 50 day moving average price of $6.00 and a 200-day moving average price of $6.18. The firm has a market capitalization of $3.26 billion, a PE ratio of -17.44 and a beta of 1.02.

Rumble (NASDAQ:RUM) last released its earnings results on Thursday, March 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). The company had revenue of $27.07 million for the quarter, compared to analyst estimates of $27.09 million. Rumble had a negative net margin of 106.91% and a negative return on equity of 42.47%. The firm’s revenue was down 10.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($1.15) EPS. Equities research analysts expect that Rumble will post -0.32 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Rumble from a “strong sell” rating to a “hold” rating in a research report on Saturday. Weiss Ratings upgraded shares of Rumble from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, April 27th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Rumble presently has a consensus rating of “Sell”.

About Rumble

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.