RumbleOn (NASDAQ:RMBL) Trading 1.5% Higher

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

Analyst Ratings Changes

RMBL has been the subject of a number of recent research reports. DA Davidson lowered their price objective on shares of RumbleOn from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, March 15th. Wedbush reduced their target price on shares of RumbleOn from $7.50 to $7.00 and set an “outperform” rating for the company in a research note on Friday, March 15th. Finally, B. Riley reissued a “buy” rating and set a $13.00 target price (up from $11.00) on shares of RumbleOn in a research note on Friday, March 15th.

RumbleOn Trading Down 2.3 %

The business’s 50 day moving average price is $6.59 and its two-hundred day moving average price is $6.63. The company has a market capitalization of $182.69 million, a price-to-earnings ratio of -0.50 and a beta of 2.04. The company has a debt-to-equity ratio of 2.71, a quick ratio of 0.34 and a current ratio of 1.22.

RumbleOn (NASDAQ:RMBL) last issued its quarterly earnings results 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). The company had revenue of $311.10 million during the quarter, compared to analyst estimates of $343.72 million. RumbleOn had a negative return on equity of 63.48% and a negative net margin of 15.63%. Equities analysts forecast that RumbleOn, Inc. will post -0.02 earnings per share for the current fiscal year.

Institutional Trading of RumbleOn

A number of institutional investors have recently made changes to their positions in RMBL. Barclays PLC lifted its stake in shares of RumbleOn by 89.5% in the 1st quarter. Barclays PLC now owns 5,335 shares of the company’s stock worth $32,000 after acquiring an additional 2,519 shares during the period. PNC Financial Services Group Inc. bought a new stake in shares of RumbleOn in the 1st quarter worth approximately $34,000. Deutsche Bank AG raised its holdings in shares of RumbleOn by 50.3% in the 1st quarter. Deutsche Bank AG now owns 6,425 shares of the company’s stock worth $39,000 after purchasing an additional 2,151 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of RumbleOn by 36.9% in the 1st quarter. JPMorgan Chase & Co. now owns 8,064 shares of the company’s stock worth $49,000 after purchasing an additional 2,175 shares in the last quarter. Finally, UBS Group AG raised its holdings in shares of RumbleOn by 268.8% during the third quarter. UBS Group AG now owns 3,327 shares of the company’s stock valued at $56,000 after acquiring an additional 2,425 shares during the period. 66.14% of the stock is owned by institutional investors and hedge funds.

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.