Rumble Target of Unusually High Options Trading (NASDAQ:RUM)

Rumble Inc. (NASDAQ:RUM) was the recipient of some unusual options trading activity on Monday. Traders bought 26,143 call options on the company. This is an increase of 182% compared to the average volume of 9,260 call options.

Rumble Stock Performance

RUM traded up $4.21 during trading on Monday, reaching $11.40. The company’s stock had a trading volume of 20,382,754 shares, compared to its average volume of 3,227,088. The company’s fifty day moving average price is $6.61 and its 200-day moving average price is $6.08. Rumble has a 52-week low of $3.33 and a 52-week high of $12.74. The company has a market capitalization of $4.44 billion, a price-to-earnings ratio of -18.10 and a beta of 0.81.

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

Insider Transactions at Rumble

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 transaction of $206,917.20. Following the transaction, the director now 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 filing with the SEC, which is available through this link. Over the last 90 days, insiders have sold 169,988 shares of company stock worth $986,517. Corporate insiders own 72.90% of the company’s stock.

Institutional Trading of Rumble

A number of institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new stake in shares of Rumble in the 2nd quarter worth about $67,000. Bank of New York Mellon Corp acquired a new stake in Rumble during the 2nd quarter valued at $66,000. Cambridge Investment Research Advisors Inc. increased its position in Rumble by 5.3% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 175,927 shares of the company’s stock worth $976,000 after buying an additional 8,824 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Rumble in the second quarter worth $142,000. Finally, Solano Wealth Management Inc. purchased a new stake in shares of Rumble in the second quarter valued at $83,000. Hedge funds and other institutional investors own 26.15% of the company’s stock.

Analyst Ratings Changes

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

About Rumble

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.