RumbleOn, Inc. (NASDAQ:RMBL – Get Free Report) dropped 1% during mid-day trading on Monday . The company traded as low as $5.62 and last traded at $5.66. Approximately 69,904 shares were traded during mid-day trading, a decline of 52% from the average daily volume of 146,246 shares. The stock had previously closed at $5.72.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on the stock. Wedbush reiterated an “outperform” rating and set a $7.00 price target on shares of RumbleOn in a report on Thursday, May 9th. DA Davidson reduced their price target on RumbleOn from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, March 15th. Finally, B. Riley reissued a “buy” rating and issued a $13.00 price target (up previously from $11.00) on shares of RumbleOn in a research note on Friday, March 15th.
RumbleOn Stock Performance
The company has a debt-to-equity ratio of 2.22, a current ratio of 1.10 and a quick ratio of 0.24. The stock’s 50 day moving average price is $5.72 and its 200 day moving average price is $6.51.
RumbleOn (NASDAQ:RMBL – Get Free Report) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.20). RumbleOn had a negative net margin of 15.59% and a negative return on equity of 82.79%. The firm had revenue of $307.80 million for the quarter, compared to the consensus estimate of $338.11 million. Equities research analysts forecast that RumbleOn, Inc. will post -0.5 earnings per share for the current year.
Hedge Funds Weigh In On RumbleOn
Institutional investors have recently added to or reduced their stakes in the business. Cannon Global Investment Management LLC bought a new stake in shares of RumbleOn in the 1st quarter valued at $65,000. Virtu Financial LLC acquired a new position in shares of RumbleOn during the first quarter valued at about $90,000. Barclays PLC acquired a new position in shares of RumbleOn during the third quarter valued at about $112,000. B. Riley Wealth Advisors Inc. boosted its position in shares of RumbleOn by 10.7% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 25,119 shares of the company’s stock worth $154,000 after purchasing an additional 2,430 shares in the last quarter. Finally, Advisor Resource Council bought a new stake in RumbleOn in the 4th quarter valued at about $282,000. 66.14% of the stock is owned by institutional investors and hedge funds.
About RumbleOn
RumbleOn, Inc primarily operates as a powersports retailer in the United States. It operates in two segments, Powersports and Vehicle Transportation Services. The Powersports segment provides new and pre-owned motorcycles, all-terrain vehicles, utility terrain or side-by-side vehicles, personal watercraft, snowmobiles, and other powersports products.