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

Rumble Inc. (NASDAQ:RUM - Get Free Report) was the target of unusually large options trading activity on Friday. Stock investors bought 21,555 call options on the stock. This represents an increase of 160% compared to the typical volume of 8,292 call options.

Wall Street Analysts Forecast Growth

Separately, Wedbush reissued a "neutral" rating and issued a $8.00 target price on shares of Rumble in a report on Wednesday, November 13th.

Rumble Price Performance

Rumble stock traded up $1.44 during mid-day trading on Friday, reaching $8.41. 12,702,744 shares of the stock traded hands, compared to its average volume of 4,059,110. The stock has a market capitalization of $3.28 billion, a PE ratio of -13.35 and a beta of 0.81. The business's 50-day moving average is $6.08 and its 200-day moving average is $5.98. Rumble has a 12-month low of $3.33 and a 12-month high of $9.20.

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

Insiders Place Their Bets

In related news, Director Robert Arsov sold 27,500 shares of Rumble stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $5.12, for a total transaction of $140,800.00. Following the sale, the director now directly owns 12,659,837 shares in the company, valued at $64,818,365.44. The trade was a 0.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last ninety days, insiders sold 169,988 shares of company stock worth $986,517. 72.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Rumble

Large investors have recently added to or reduced their stakes in the company. Virtu Financial LLC bought a new stake in Rumble during the third quarter valued at about $70,000. Barclays PLC boosted its stake in shares of Rumble by 663.9% in the third quarter. Barclays PLC now owns 13,559 shares of the company's stock worth $72,000 after acquiring an additional 11,784 shares during the period. Geode Capital Management LLC grew its position in shares of Rumble by 14.5% during the third quarter. Geode Capital Management LLC now owns 1,035,718 shares of the company's stock worth $5,553,000 after purchasing an additional 130,956 shares in the last quarter. MML Investors Services LLC bought a new stake in Rumble during the 3rd quarter valued at approximately $185,000. Finally, Janus Henderson Group PLC purchased a new position in Rumble in the 3rd quarter worth approximately $184,000. Hedge funds and other institutional investors own 26.15% of the company's stock.

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.