Traders Buy High Volume of Call Options on Rumble (NASDAQ:RUM)

Rumble Inc. (NASDAQ:RUM - Get Free Report) was the recipient of some unusual options trading on Tuesday. Investors purchased 10,786 call options on the company. This is an increase of 47% compared to the average daily volume of 7,327 call options.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. IFP Advisors Inc increased its stake in Rumble by 70.9% in the 4th quarter. IFP Advisors Inc now owns 2,000 shares of the company's stock valued at $26,000 after buying an additional 830 shares during the period. North Star Investment Management Corp. boosted its holdings in shares of Rumble by 60.0% in the first quarter. North Star Investment Management Corp. now owns 4,000 shares of the company's stock valued at $28,000 after acquiring an additional 1,500 shares in the last quarter. Golden State Wealth Management LLC boosted its holdings in shares of Rumble by 28,571.4% in the first quarter. Golden State Wealth Management LLC now owns 4,014 shares of the company's stock valued at $28,000 after acquiring an additional 4,000 shares in the last quarter. CWM LLC increased its stake in shares of Rumble by 104.3% during the first quarter. CWM LLC now owns 4,395 shares of the company's stock worth $31,000 after acquiring an additional 2,244 shares during the period. Finally, Raleigh Capital Management Inc. raised its holdings in Rumble by 8,900.0% during the first quarter. Raleigh Capital Management Inc. now owns 4,500 shares of the company's stock worth $32,000 after purchasing an additional 4,450 shares in the last quarter. Institutional investors and hedge funds own 26.15% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wedbush set a $8.00 price objective on Rumble and gave the company a "neutral" rating in a research note on Tuesday, April 15th.

Rumble Stock Down 1.0%

NASDAQ:RUM traded down $0.09 during trading hours on Wednesday, reaching $9.06. 1,180,749 shares of the company's stock were exchanged, compared to its average volume of 3,193,179. The firm has a market capitalization of $3.94 billion, a price-to-earnings ratio of -14.41 and a beta of 0.75. The company has a 50-day moving average of $8.46 and a 200 day moving average of $9.52. Rumble has a 1-year low of $4.92 and a 1-year high of $17.40.

Rumble (NASDAQ:RUM - Get Free Report) last announced its earnings results on Tuesday, March 25th. The company reported ($1.15) EPS for the quarter, missing analysts' consensus estimates of ($0.13) by ($1.02). Rumble had a negative net margin of 152.81% and a negative return on equity of 62.75%. The business had revenue of $30.20 million during the quarter, compared to analysts' expectations of $29.74 million. The firm's revenue for the quarter was up 48.0% compared to the same quarter last year. Research analysts forecast that Rumble will post -0.62 EPS for the current fiscal year.

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.