RumbleOn, Inc. (NASDAQ:RMBL) Short Interest Update

RumbleOn, Inc. (NASDAQ:RMBL) was the recipient of a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 1,760,000 shares, a growth of 22.2% from the February 28th total of 1,440,000 shares. Based on an average daily volume of 99,100 shares, the days-to-cover ratio is presently 17.8 days. Approximately 11.0% of the shares of the company are short sold.

RumbleOn Price Performance

Shares of NASDAQ RMBL traded down $0.37 during trading on Thursday, hitting $2.41. The company had a trading volume of 38,030 shares, compared to its average volume of 143,128. RumbleOn has a fifty-two week low of $2.41 and a fifty-two week high of $7.06. The stock has a fifty day simple moving average of $3.91 and a two-hundred day simple moving average of $4.82. The company has a quick ratio of 0.29, a current ratio of 1.12 and a debt-to-equity ratio of 2.52. The firm has a market capitalization of $90.92 million, a price-to-earnings ratio of -0.29 and a beta of 2.17.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Robert W. Baird reduced their price target on RumbleOn from $8.00 to $5.00 and set an “outperform” rating for the company in a research report on Wednesday, March 12th. Wedbush dropped their price target on shares of RumbleOn from $5.50 to $5.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 12th. Finally, DA Davidson decreased their price objective on shares of RumbleOn from $5.00 to $4.00 and set a “neutral” rating for the company in a research report on Wednesday, March 12th.

Institutional Trading of RumbleOn

Several large investors have recently made changes to their positions in the company. PharVision Advisers LLC purchased a new stake in shares of RumbleOn during the fourth quarter worth $114,000. Deutsche Bank AG lifted its position in RumbleOn by 260.3% during the fourth quarter. Deutsche Bank AG now owns 22,545 shares of the company’s stock worth $122,000 after buying an additional 16,288 shares in the last quarter. Bank of America Corp DE grew its holdings in RumbleOn by 39.3% in the 4th quarter. Bank of America Corp DE now owns 26,155 shares of the company’s stock valued at $142,000 after buying an additional 7,383 shares in the last quarter. Northern Trust Corp increased its stake in shares of RumbleOn by 8.4% in the 4th quarter. Northern Trust Corp now owns 146,387 shares of the company’s stock worth $795,000 after acquiring an additional 11,395 shares during the last quarter. Finally, Boothbay Fund Management LLC acquired a new position in shares of RumbleOn during the 4th quarter valued at about $55,000. 66.14% of the stock is currently owned by hedge funds and other institutional investors.

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.