DA Davidson Lowers RumbleOn (NASDAQ:RMBL) Price Target to $4.00

RumbleOn (NASDAQ:RMBL) had its target price reduced by research analysts at DA Davidson from $5.00 to $4.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. DA Davidson’s price objective would suggest a potential upside of 12.01% from the company’s previous close.

RMBL has been the topic of a number of other research reports. B. Riley cut RumbleOn from a “buy” rating to a “neutral” rating and set a $7.00 price objective on the stock. in a report on Friday, November 29th. Robert W. Baird lowered their price target on shares of RumbleOn from $8.00 to $5.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, Wedbush reduced their price objective on shares of RumbleOn from $5.50 to $5.00 and set an “outperform” rating for the company in a research note on Wednesday.

RumbleOn Stock Performance

Shares of NASDAQ:RMBL traded down $0.02 during trading on Wednesday, hitting $3.57. 44,149 shares of the company were exchanged, compared to its average volume of 151,913. RumbleOn has a 52-week low of $3.13 and a 52-week high of $7.53. The stock has a 50 day moving average of $4.38 and a 200 day moving average of $4.93. The company has a debt-to-equity ratio of 2.52, a current ratio of 1.12 and a quick ratio of 0.29. The company has a market cap of $126.31 million, a PE ratio of -0.42 and a beta of 2.17.

Institutional Trading of RumbleOn

Several institutional investors and hedge funds have recently modified their holdings of the business. Citigroup Inc. grew its holdings in shares of RumbleOn by 46,928.8% during the third 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 in the last quarter. Geode Capital Management LLC grew its stake in RumbleOn by 7.5% in the 4th quarter. Geode Capital Management LLC now owns 475,315 shares of the company’s stock worth $2,581,000 after buying an additional 32,987 shares in the last quarter. State Street Corp increased its holdings in shares of RumbleOn by 1.7% in the 3rd quarter. State Street Corp now owns 181,190 shares of the company’s stock worth $868,000 after buying an additional 3,061 shares during the last quarter. Northern Trust Corp raised its position in shares of RumbleOn by 8.4% during the 4th quarter. Northern Trust Corp now owns 146,387 shares of the company’s stock valued at $795,000 after buying an additional 11,395 shares in the last quarter. Finally, Empowered Funds LLC lifted its holdings in shares of RumbleOn by 5.3% during the 3rd 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. Hedge funds and other institutional investors own 66.14% of the company’s stock.

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.