Rumble Sees Unusually Large Options Volume (NASDAQ:RUM)

Rumble Inc. (NASDAQ:RUM) was the target of some unusual options trading activity on Tuesday. Stock investors bought 34,495 call options on the stock. This represents an increase of approximately 309% compared to the typical volume of 8,439 call options.

Wall Street Analyst Weigh In

Several research firms have weighed in on RUM. Wall Street Zen cut shares of Rumble from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Rumble in a report on Friday, July 24th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Rumble Price Performance

Shares of RUM opened at $8.53 on Wednesday. The company has a market capitalization of $4.23 billion, a price-to-earnings ratio of -14.46 and a beta of 1.21. Rumble has a fifty-two week low of $4.62 and a fifty-two week high of $10.60. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.12 and a quick ratio of 2.12. The business’s 50-day moving average is $6.89 and its 200-day moving average is $6.65.

Rumble (NASDAQ:RUM) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.18). The company had revenue of $40.37 million for the quarter, compared to analyst estimates of $31.23 million. Rumble had a negative return on equity of 22.77% and a negative net margin of 134.60%.The business’s revenue for the quarter was up 61.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.12) earnings per share. Equities research analysts expect that Rumble will post -0.55 EPS for the current fiscal year.

Hedge Funds Weigh In On Rumble

Several institutional investors and hedge funds have recently modified their holdings of RUM. Cooper Creek Partners Management LLC raised its holdings in shares of Rumble by 54.1% during the first 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. Northwestern Mutual Wealth Management Co. purchased a new position in Rumble in the fourth quarter valued at about $47,000. Corient Private Wealth LP acquired a new position in Rumble in the 2nd quarter worth about $164,000. California State Teachers Retirement System increased its position in Rumble by 627.5% in the 2nd quarter. California State Teachers Retirement System now owns 516,881 shares of the company’s stock worth $3,277,000 after purchasing an additional 445,828 shares during the last quarter. Finally, Handelsbanken Fonder AB increased its position in Rumble by 38.1% in the 2nd quarter. Handelsbanken Fonder AB now owns 39,500 shares of the company’s stock worth $250,000 after purchasing an additional 10,900 shares during the last quarter. 26.15% of the stock is currently owned by hedge funds and other institutional investors.

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.