RumbleOn (NASDAQ:RMBL) Stock Price Down 1%

RumbleOn, Inc. (NASDAQ:RMBL) was down 1% during trading on Monday . The stock traded as low as $5.62 and last traded at $5.66. Approximately 69,904 shares traded hands during trading, a decline of 52% from the average daily volume of 146,246 shares. The stock had previously closed at $5.72.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Wedbush reaffirmed an “outperform” rating and set a $7.00 price target on shares of RumbleOn in a report on Thursday, May 9th. DA Davidson lowered their price target on RumbleOn from $10.00 to $8.00 and set a “buy” rating for the company in a report on Friday, March 15th. Finally, B. Riley reissued a “buy” rating and set a $13.00 price objective (up previously from $11.00) on shares of RumbleOn in a report on Friday, March 15th.

RumbleOn Price Performance

The company has a market cap of $205.57 million, a price-to-earnings ratio of -0.59 and a beta of 2.11. The company’s 50 day moving average price is $5.70 and its 200 day moving average price is $6.50. The company has a current ratio of 1.10, a quick ratio of 0.24 and a debt-to-equity ratio of 2.22.

RumbleOn (NASDAQ:RMBL) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.20). The firm had revenue of $307.80 million during the quarter, compared to analyst estimates of $338.11 million. RumbleOn had a negative net margin of 15.59% and a negative return on equity of 82.79%. Equities research analysts forecast that RumbleOn, Inc. will post -0.5 earnings per share for the current year.

Hedge Funds Weigh In On RumbleOn

A number of institutional investors and hedge funds have recently made changes to their positions in RMBL. B. Riley Wealth Advisors Inc. boosted its position in RumbleOn by 10.7% during the third quarter. B. Riley Wealth Advisors Inc. now owns 25,119 shares of the company’s stock worth $154,000 after purchasing an additional 2,430 shares in the last quarter. Empowered Funds LLC grew its stake in RumbleOn by 8.1% in the 1st quarter. Empowered Funds LLC now owns 58,300 shares of the company’s stock valued at $377,000 after acquiring an additional 4,375 shares during the last quarter. Cannon Global Investment Management LLC purchased a new position in RumbleOn during the 1st quarter valued at about $65,000. Virtu Financial LLC acquired a new position in RumbleOn during the first quarter worth about $90,000. Finally, Barclays PLC acquired a new position in RumbleOn during the third quarter worth about $112,000. 66.14% of the stock is 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.