Rumble (NASDAQ:RUM) Stock Sees Unusually High Call Option Buying

Rumble Inc. (NASDAQ:RUM – Get Free Report) was the recipient of unusually large options trading on Friday. Investors bought 35,900 call options on the company. This represents an increase of approximately 304% compared to the typical volume of 8,897 call options.

Wall Street Analysts Forecast Growth

Several research analysts have commented on RUM shares. Lake Street Capital initiated coverage on shares of Rumble in a research note on Tuesday. They set a “hold” rating and a $25.00 price objective for the company. Wall Street Zen downgraded shares of Rumble from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Rumble in a research note on Friday, July 24th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $25.00.

Get Our Latest Stock Report on Rumble

Hedge Funds Weigh In On Rumble

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Cooper Creek Partners Management LLC grew its holdings in Rumble by 54.1% during the 1st quarter. Cooper Creek Partners Management LLC now owns 5,242,497 shares of the company’s stock worth $26,737,000 after acquiring an additional 1,840,893 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of 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 in the last quarter. Sigma Planning Corp increased its holdings in Rumble by 2.1% during the first quarter. Sigma Planning Corp now owns 162,699 shares of the company’s stock valued at $830,000 after buying an additional 3,349 shares during the period. Handelsbanken Fonder AB boosted its position in Rumble by 38.1% during the 2nd quarter. Handelsbanken Fonder AB now owns 39,500 shares of the company’s stock valued at $250,000 after acquiring an additional 10,900 shares in the last quarter. Finally, Corient Private Wealth LP bought a new position in shares of Rumble in the 2nd quarter worth $164,000. Institutional investors own 26.15% of the company’s stock.

Rumble Trading Down 0.6%

RUM stock opened at $6.96 on Friday. Rumble has a 12 month low of $4.62 and a 12 month high of $10.60. The firm’s 50-day moving average is $8.01 and its 200 day moving average is $7.14. The company has a market capitalization of $3.45 billion, a PE ratio of -11.80 and a beta of 1.25. 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 – Get Free Report) last issued its earnings results on Monday, August 10th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.18). Rumble had a negative return on equity of 22.77% and a negative net margin of 134.60%. The company had revenue of $40.37 million during the quarter, compared to the consensus estimate of $31.23 million. During the same quarter in the prior year, the company earned ($0.12) earnings per share. Rumble’s revenue was up 61.0% on a year-over-year basis. On average, research analysts anticipate that Rumble will post -0.55 EPS for the current year.

About Rumble

(Get Free Report)

Rumble Inc is a video-sharing and social media company that operates the Rumble platform, where users can upload, watch, livestream and share video content. The company also provides related tools for creators, including audience engagement and monetization services, and generates revenue through advertising, subscriptions and other digital offerings.

In addition to its consumer video platform, Rumble offers cloud infrastructure services through Rumble Cloud. These services are designed to support video hosting, storage, distribution and other online applications.

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