RumbleOn (NASDAQ:RMBL) Trading 0.6% Higher – Here’s What Happened

RumbleOn, Inc. (NASDAQ:RMBL) was up 0.6% on Monday . The stock traded as high as $5.34 and last traded at $5.22. Approximately 144,414 shares traded hands during mid-day trading, a decline of 11% from the average daily volume of 162,887 shares. The stock had previously closed at $5.19.

Analyst Ratings Changes

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

RumbleOn Price Performance

The stock has a market cap of $199.85 million, a price-to-earnings ratio of -0.67 and a beta of 2.23. 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 stock’s 50 day simple moving average is $5.71 and its two-hundred day simple moving average is $4.83.

RumbleOn (NASDAQ:RMBL) last posted its quarterly earnings results 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). The business had revenue of $295.00 million during the quarter, compared to analyst estimates 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 period last year, the company earned ($0.71) EPS. On average, analysts forecast that RumbleOn, Inc. will post -0.87 earnings per share for the current fiscal year.

Institutional Investors Weigh In On RumbleOn

Institutional investors and hedge funds have recently made changes to their positions in the company. Rhumbline Advisers boosted its holdings in shares of RumbleOn by 3,910.5% in the 2nd quarter. Rhumbline Advisers now owns 19,772 shares of the company’s stock worth $81,000 after acquiring an additional 19,279 shares in the last quarter. Barclays PLC raised its position in RumbleOn by 278.7% in the 3rd quarter. Barclays PLC now owns 21,278 shares of the company’s stock valued at $102,000 after purchasing an additional 15,660 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in RumbleOn by 35.9% in the second quarter. Dimensional Fund Advisors LP now owns 29,182 shares of the company’s stock worth $120,000 after purchasing an additional 7,704 shares in the last quarter. Magnus Financial Group LLC acquired a new position in RumbleOn in the second quarter worth $127,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of RumbleOn during the second quarter worth $182,000. Institutional investors and hedge funds 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.