Rumble Sees Unusually High Options Volume (NASDAQ:RUM)

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

Institutional Investors Weigh In On Rumble

Several institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its holdings 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 valued at $1,643,000 after purchasing an additional 1,475 shares during the last quarter. RIA Advisory Group LLC lifted its holdings in Rumble by 12.1% during the third 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 during the last quarter. Cetera Investment Advisers lifted its holdings in Rumble by 9.5% during the fourth 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 during the last quarter. ProShare Advisors LLC lifted its holdings in Rumble by 12.9% during the third 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 during the last quarter. Finally, Bank of America Corp DE lifted its holdings in Rumble by 0.4% during the second 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 during the last quarter. 26.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RUM has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of Rumble from a “strong sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings upgraded 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, According to data from MarketBeat, Rumble presently has an average rating of “Sell”.

Rumble Stock Up 4.2%

RUM traded up $0.30 during trading on Monday, hitting $7.50. 2,539,377 shares of the company traded hands, compared to its average volume of 2,406,583. The firm has a market cap of $3.26 billion, a P/E ratio of -17.44 and a beta of 1.02. The stock’s fifty day moving average is $6.00 and its 200 day moving average is $6.18. Rumble has a one year low of $4.62 and a one year high of $10.99.

Rumble (NASDAQ:RUM) last posted its quarterly 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). The company had revenue of $27.07 million for the quarter, compared to the consensus estimate of $27.09 million. Rumble had a negative net margin of 106.91% and a negative return on equity of 42.47%. Rumble’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.15) EPS. On average, equities research analysts forecast that Rumble will post -0.32 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.