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

Rumble Inc. (NASDAQ:RUM - Get Free Report) saw some unusual options trading activity on Tuesday. Stock traders acquired 10,786 call options on the company. This represents an increase of 47% compared to the typical volume of 7,327 call options.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. IFP Advisors Inc increased its stake in Rumble by 70.9% in the fourth quarter. IFP Advisors Inc now owns 2,000 shares of the company's stock valued at $26,000 after acquiring an additional 830 shares during the last quarter. Steward Partners Investment Advisory LLC increased its stake in Rumble by 50.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,933 shares of the company's stock valued at $38,000 after acquiring an additional 980 shares during the last quarter. North Star Investment Management Corp. increased its stake in 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 during the last quarter. Bank of New York Mellon Corp increased its stake in Rumble by 12.7% in the fourth quarter. Bank of New York Mellon Corp now owns 13,396 shares of the company's stock valued at $174,000 after acquiring an additional 1,510 shares during the last quarter. Finally, Arizona State Retirement System grew its stake in shares of Rumble by 9.4% during the first quarter. Arizona State Retirement System now owns 18,727 shares of the company's stock worth $132,000 after buying an additional 1,615 shares during the last quarter. 26.15% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Rumble Price Performance

NASDAQ:RUM traded down $0.15 during mid-day trading on Friday, reaching $8.65. The stock had a trading volume of 2,217,199 shares, compared to its average volume of 3,215,160. The stock has a 50-day simple moving average of $8.55 and a two-hundred day simple moving average of $9.53. The stock has a market capitalization of $3.76 billion, a PE ratio of -13.73 and a beta of 0.75. Rumble has a 12 month low of $4.92 and a 12 month high of $17.40.

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