RumbleOn (NASDAQ:RMBL) Earns Neutral Rating from DA Davidson

RumbleOn (NASDAQ:RMBL)‘s stock had its “neutral” rating reiterated by research analysts at DA Davidson in a report issued on Tuesday,Benzinga reports. They currently have a $5.00 target price on the stock. DA Davidson’s price target would suggest a potential upside of 9.41% from the stock’s current price.

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

RumbleOn Trading Down 3.4 %

Shares of RumbleOn stock opened at $4.57 on Tuesday. The business has a fifty day simple moving average of $5.72 and a 200-day simple moving average of $4.86. RumbleOn has a fifty-two week low of $3.13 and a fifty-two week high of $8.17. The firm has a market cap of $161.65 million, a price-to-earnings ratio of -0.54 and a beta of 2.31. The company has a quick ratio of 0.29, a current ratio of 1.12 and a debt-to-equity ratio of 2.52.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. raised its holdings in shares of RumbleOn by 249.0% during the third quarter. JPMorgan Chase & Co. now owns 23,879 shares of the company’s stock valued at $114,000 after acquiring an additional 17,036 shares during the period. Barclays PLC grew its position in RumbleOn by 278.7% during the 3rd quarter. Barclays PLC now owns 21,278 shares of the company’s stock worth $102,000 after purchasing an additional 15,660 shares in the last quarter. Geode Capital Management LLC raised its stake in RumbleOn by 8.7% during the 3rd quarter. Geode Capital Management LLC now owns 442,328 shares of the company’s stock valued at $2,119,000 after purchasing an additional 35,536 shares during the period. State Street Corp lifted its holdings in shares of RumbleOn by 1.7% in the third quarter. State Street Corp now owns 181,190 shares of the company’s stock valued at $868,000 after purchasing an additional 3,061 shares in the last quarter. Finally, Citigroup Inc. boosted its position in shares of RumbleOn by 46,928.8% in the third quarter. Citigroup Inc. now owns 1,701,503 shares of the company’s stock worth $8,150,000 after buying an additional 1,697,885 shares during the period. 66.14% of the stock is currently owned by institutional investors and hedge funds.

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.