RumbleOn (NASDAQ:RMBL) Trading 0.6% Higher – What’s Next?

RumbleOn, Inc. (NASDAQ:RMBL)’s stock price traded up 0.6% during trading on Monday . The company traded as high as $5.34 and last traded at $5.22. 144,414 shares changed hands during mid-day trading, a decline of 11% from the average session volume of 162,887 shares. The stock had previously closed at $5.19.

Analysts Set New Price Targets

Separately, B. Riley cut RumbleOn from a “buy” rating to a “neutral” rating and set a $7.00 price target for the company. in a report on Friday, November 29th.

RumbleOn Stock Up 0.6 %

The business’s 50 day simple moving average is $5.71 and its 200 day simple moving average is $4.83. The company has a current ratio of 1.12, a quick ratio of 0.29 and a debt-to-equity ratio of 2.52. The firm has a market capitalization of $184.64 million, a PE ratio of -0.62 and a beta of 2.23.

RumbleOn (NASDAQ:RMBL) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.22). RumbleOn had a negative return on equity of 122.45% and a negative net margin of 15.25%. The company had revenue of $295.00 million during the quarter, compared to analysts’ expectations of $302.76 million. During the same quarter in the prior year, the business posted ($0.71) EPS. On average, equities research analysts forecast that RumbleOn, Inc. will post -0.87 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Rhumbline Advisers lifted its stake in RumbleOn by 3,910.5% in the second quarter. Rhumbline Advisers now owns 19,772 shares of the company’s stock worth $81,000 after purchasing an additional 19,279 shares during the last quarter. Barclays PLC lifted its stake in shares of RumbleOn by 278.7% during the 3rd quarter. Barclays PLC now owns 21,278 shares of the company’s stock worth $102,000 after acquiring an additional 15,660 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in RumbleOn by 35.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 29,182 shares of the company’s stock valued at $120,000 after acquiring an additional 7,704 shares during the period. Magnus Financial Group LLC bought a new position in RumbleOn in the 2nd quarter valued at $127,000. Finally, Bank of New York Mellon Corp purchased a new stake in RumbleOn in the second quarter worth $182,000. 66.14% of the stock is owned by hedge funds and other institutional investors.

RumbleOn Company Profile

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.