RumbleOn, Inc. (NASDAQ:RMBL) Sees Significant Growth in Short Interest

RumbleOn, Inc. (NASDAQ:RMBL) was the recipient of a significant increase in short interest in the month of January. As of January 15th, there was short interest totalling 1,380,000 shares, an increase of 19.0% from the December 31st total of 1,160,000 shares. Based on an average daily volume of 124,900 shares, the days-to-cover ratio is presently 11.0 days.

RumbleOn Trading Down 5.7 %

RMBL traded down $0.25 on Monday, reaching $4.10. 71,117 shares of the company’s stock were exchanged, compared to its average volume of 83,782. RumbleOn has a twelve month low of $3.13 and a twelve month high of $8.17. The company’s 50 day moving average is $5.39 and its 200-day moving average is $4.90. The company has a debt-to-equity ratio of 2.52, a quick ratio of 0.29 and a current ratio of 1.12. The company has a market cap of $145.02 million, a price-to-earnings ratio of -0.49 and a beta of 2.26.

RumbleOn (NASDAQ:RMBL) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.32) earnings per share (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 business had revenue of $295.00 million during the quarter, compared to analyst estimates of $302.76 million. During the same period in the previous year, the company earned ($0.71) EPS. Equities analysts predict that RumbleOn will post -0.87 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Empowered Funds LLC increased its position in shares of RumbleOn by 5.3% during the third quarter. Empowered Funds LLC now owns 66,150 shares of the company’s stock worth $317,000 after acquiring an additional 3,350 shares during the last quarter. Citigroup Inc. increased its holdings in RumbleOn by 46,928.8% during the 3rd quarter. Citigroup Inc. now owns 1,701,503 shares of the company’s stock worth $8,150,000 after purchasing an additional 1,697,885 shares during the last quarter. Barclays PLC increased its holdings 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 during the last quarter. Geode Capital Management LLC boosted its stake in shares of 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 buying an additional 35,536 shares during the last quarter. Finally, State Street Corp grew its position in shares of RumbleOn by 1.7% during the third quarter. State Street Corp now owns 181,190 shares of the company’s stock worth $868,000 after buying an additional 3,061 shares in the last quarter. Institutional investors and hedge funds own 66.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on RMBL. DA Davidson reaffirmed a “neutral” rating and set a $5.00 price target (down previously from $7.50) on shares of RumbleOn in a research note on Tuesday, January 14th. B. Riley downgraded RumbleOn from a “buy” rating to a “neutral” rating and set a $7.00 price objective for the company. in a report on Friday, November 29th.

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.