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

Rumble Inc. (NASDAQ:RUM) saw unusually large options trading activity on Monday. Traders bought 34,392 call options on the stock. This represents an increase of approximately 334% compared to the average daily volume of 7,929 call options.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Cooper Creek Partners Management LLC boosted its position in shares of Rumble by 54.1% in the 1st quarter. Cooper Creek Partners Management LLC now owns 5,242,497 shares of the company’s stock valued at $26,737,000 after purchasing an additional 1,840,893 shares during the period. State of Wyoming acquired a new position in Rumble during the first quarter worth approximately $62,000. Bank of New York Mellon Corp increased its position in Rumble by 0.5% during the first quarter. Bank of New York Mellon Corp now owns 322,245 shares of the company’s stock worth $1,643,000 after buying an additional 1,475 shares during the period. Hsbc Holdings PLC purchased a new stake in Rumble in the first quarter valued at approximately $81,000. Finally, NewEdge Advisors LLC lifted its stake in Rumble by 2,905.9% in the fourth quarter. NewEdge Advisors LLC now owns 10,250 shares of the company’s stock valued at $65,000 after buying an additional 9,909 shares during the last quarter. Institutional investors and hedge funds own 26.15% of the company’s stock.

Wall Street Analysts Forecast Growth

RUM has been the topic of a number of analyst reports. Wall Street Zen lowered shares of Rumble from a “hold” rating to a “sell” rating in a report on Saturday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rumble in a research note on Friday, July 24th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has an average rating of “Sell”.

Rumble Stock Up 11.4%

Shares of NASDAQ RUM traded up $0.85 during midday trading on Monday, hitting $8.31. 3,441,287 shares of the company’s stock were exchanged, compared to its average volume of 2,800,455. The firm’s fifty day simple moving average is $6.50 and its 200-day simple moving average is $6.39. The company has a market cap of $4.12 billion, a PE ratio of -14.08 and a beta of 1.14. Rumble has a twelve month low of $4.62 and a twelve month high of $10.54. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.12 and a quick ratio of 2.12.

Rumble (NASDAQ:RUM) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.18). The business had revenue of $40.37 million during the quarter, compared to analyst estimates of $31.23 million. Rumble had a negative net margin of 134.60% and a negative return on equity of 22.77%. The business’s revenue for the quarter was up 61.0% compared to the same quarter last year. During the same period last year, the company earned ($0.12) earnings per share. Research analysts predict that Rumble will post -0.22 EPS for the current fiscal year.

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.