RumbleOn (NASDAQ:RMBL) Trading 1.5% Higher

RumbleOn, Inc. (NASDAQ:RMBL)’s share price traded up 1.5% on Tuesday . The stock traded as high as $5.71 and last traded at $5.56. 91,401 shares were traded during trading, a decline of 42% from the average session volume of 158,562 shares. The stock had previously closed at $5.48.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Wedbush lowered their target price on RumbleOn from $7.50 to $7.00 and set an “outperform” rating on the stock in a report on Friday, March 15th. B. Riley reiterated a “buy” rating and issued a $13.00 price objective (up from $11.00) on shares of RumbleOn in a report on Friday, March 15th. Finally, DA Davidson decreased their price objective on RumbleOn from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, March 15th.

RumbleOn Trading Down 2.3 %

The company has a market cap of $182.69 million, a PE ratio of -0.50 and a beta of 2.04. The company has a quick ratio of 0.34, a current ratio of 1.22 and a debt-to-equity ratio of 2.71. The business has a 50-day simple moving average of $6.59 and a 200-day simple moving average of $6.63.

RumbleOn (NASDAQ:RMBL) last posted its quarterly earnings data on Thursday, March 14th. The company reported ($4.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($3.98). RumbleOn had a negative return on equity of 63.48% and a negative net margin of 15.63%. The company had revenue of $311.10 million for the quarter, compared to analysts’ expectations of $343.72 million. On average, analysts predict that RumbleOn, Inc. will post -0.02 EPS for the current fiscal year.

Hedge Funds Weigh In On RumbleOn

Large investors have recently bought and sold shares of the business. Barclays PLC purchased a new position in RumbleOn in the third quarter valued at $112,000. B. Riley Wealth Advisors Inc. increased its holdings in RumbleOn by 10.7% in the third quarter. B. Riley Wealth Advisors Inc. now owns 25,119 shares of the company’s stock valued at $154,000 after buying an additional 2,430 shares during the last quarter. Advisor Resource Council acquired a new position in RumbleOn in the fourth quarter valued at $282,000. Cambridge Investment Research Advisors Inc. acquired a new position in RumbleOn in the third quarter valued at $76,000. Finally, American International Group Inc. acquired a new position in RumbleOn in the second quarter valued at $71,000. Hedge funds and other institutional investors own 66.14% of the company’s stock.

About RumbleOn

RumbleON, Inc operates a technology-based omnichannel platform in North America. It operates through three segments: Powersports, Automotive, and Vehicle Logistics. The Powersports segment distributes motorcycles and other powersports vehicles. The Automotive segment distributes cars and trucks. The Vehicle Logistics segment provides nationwide transportation brokerage services between dealerships and auctions.