Rumble Sees Unusually Large Options Volume (NASDAQ:RUM)

Rumble Inc. (NASDAQ:RUM - Get Free Report) saw unusually large options trading on Monday. Stock traders purchased 26,143 call options on the stock. This is an increase of 182% compared to the average volume of 9,260 call options.

Wall Street Analysts Forecast Growth

Separately, Wedbush reaffirmed a "neutral" rating and set a $8.00 target price on shares of Rumble in a research note on Wednesday, November 13th.

Insider Transactions at Rumble

In other news, Director Robert Arsov sold 29,988 shares of the company's stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $6.90, for a total transaction of $206,917.20. Following the completion of the sale, the director now owns 12,487,349 shares of the company's stock, valued at approximately $86,162,708.10. This represents a 0.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last three months, insiders have sold 169,988 shares of company stock valued at $986,517. 72.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Rumble

A number of hedge funds have recently made changes to their positions in the stock. Redwood Wealth Management Group LLC bought a new position in Rumble during the second quarter worth $30,000. Bank of New York Mellon Corp acquired a new stake in shares of Rumble during the 2nd quarter worth approximately $66,000. SG Americas Securities LLC bought a new stake in shares of Rumble in the 2nd quarter valued at $67,000. Virtu Financial LLC bought a new position in Rumble during the third quarter worth $70,000. Finally, Barclays PLC increased its stake in Rumble by 663.9% in the third quarter. Barclays PLC now owns 13,559 shares of the company's stock valued at $72,000 after purchasing an additional 11,784 shares in the last quarter. 26.15% of the stock is currently owned by institutional investors.

Rumble Stock Up 81.2 %

NASDAQ RUM traded up $5.84 on Monday, hitting $13.03. The company's stock had a trading volume of 86,124,523 shares, compared to its average volume of 3,536,232. The company's 50-day moving average is $6.61 and its 200 day moving average is $6.08. The firm has a market cap of $5.08 billion, a PE ratio of -20.68 and a beta of 0.81. Rumble has a 1-year low of $3.33 and a 1-year high of $14.63.

Rumble (NASDAQ:RUM - Get Free Report) last posted 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). The company had revenue of $25.06 million during the quarter, compared to analyst estimates of $29.25 million. Rumble had a negative net margin of 152.81% and a negative return on equity of 62.75%. During the same quarter in the previous year, the company earned ($0.14) earnings per share. On average, equities analysts expect that Rumble will post -0.62 EPS for the current year.

Rumble Company Profile

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.