Rumble Sees Unusually High Options Volume (NASDAQ:RUM)

Rumble Inc. (NASDAQ:RUM) saw unusually large options trading on Friday. Traders purchased 21,555 call options on the stock. This is an increase of 160% compared to the average volume of 8,292 call options.

Rumble Trading Up 20.6 %

RUM opened at $8.41 on Friday. Rumble has a 12-month low of $3.33 and a 12-month high of $9.20. The company has a market cap of $3.28 billion, a price-to-earnings ratio of -13.35 and a beta of 0.81. The stock has a fifty day simple moving average of $6.08 and a two-hundred day simple moving average of $5.98.

Rumble (NASDAQ:RUM) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). The business had revenue of $25.06 million for the quarter, compared to analysts’ expectations of $29.25 million. Rumble had a negative net margin of 152.81% and a negative return on equity of 62.75%. During the same period last year, the business earned ($0.14) earnings per share. On average, analysts predict that Rumble will post -0.62 EPS for the current year.

Insider Buying and Selling

In related news, Director Robert Arsov sold 29,988 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $6.90, for a total value of $206,917.20. Following the sale, the director now directly owns 12,487,349 shares of the company’s stock, valued at $86,162,708.10. This trade represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold 169,988 shares of company stock valued at $986,517 over the last ninety days. 72.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Rumble

A number of hedge funds have recently bought and sold shares of the company. Redwood Wealth Management Group LLC purchased a new stake in Rumble during the 2nd quarter valued at $30,000. Bank of New York Mellon Corp purchased a new stake in shares of Rumble during the second quarter valued at $66,000. SG Americas Securities LLC bought a new stake in Rumble in the 2nd quarter worth about $67,000. Virtu Financial LLC purchased a new position in Rumble in the 3rd quarter worth about $70,000. Finally, Barclays PLC lifted its stake in Rumble by 663.9% during the 3rd quarter. Barclays PLC now owns 13,559 shares of the company’s stock valued at $72,000 after acquiring an additional 11,784 shares during the period. Institutional investors own 26.15% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wedbush reiterated a “neutral” rating and set a $8.00 target price on shares of Rumble in a report on Wednesday, November 13th.

Rumble Company Profile

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.