RumbleOn (NASDAQ:RMBL) Downgraded by B. Riley to “Neutral”

RumbleOn (NASDAQ:RMBL) was downgraded by B. Riley from a “buy” rating to a “neutral” rating in a research note issued on Friday,Briefing.com Automated Import reports. They currently have a $7.00 target price on the stock.

Separately, Wedbush lowered their price target on RumbleOn from $7.00 to $5.00 and set an “outperform” rating for the company in a report on Thursday, August 8th.

RumbleOn Price Performance

Shares of RMBL opened at $7.00 on Friday. The firm has a market capitalization of $247.59 million, a price-to-earnings ratio of -0.83 and a beta of 2.08. The firm’s fifty day simple moving average is $5.22 and its 200-day simple moving average is $4.82. RumbleOn has a twelve month low of $3.13 and a twelve month high of $8.84. The company has a current ratio of 1.12, a quick ratio of 0.29 and a debt-to-equity ratio of 2.52.

RumbleOn (NASDAQ:RMBL) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates 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 net margin of 15.25% and a negative return on equity of 122.45%. During the same quarter in the prior year, the business earned ($0.71) earnings per share. Equities analysts forecast that RumbleOn will post -0.87 EPS for the current fiscal year.

Institutional Trading of RumbleOn

Hedge funds and other institutional investors have recently made changes to their positions in the company. Rhumbline Advisers grew its stake in RumbleOn by 3,910.5% during the 2nd quarter. Rhumbline Advisers now owns 19,772 shares of the company’s stock worth $81,000 after buying an additional 19,279 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of RumbleOn in the 1st quarter valued at $90,000. Barclays PLC increased its holdings in shares of 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 acquiring an additional 15,660 shares during the period. Dimensional Fund Advisors LP raised its position in RumbleOn by 35.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 29,182 shares of the company’s stock valued at $120,000 after purchasing an additional 7,704 shares during the last quarter. Finally, Magnus Financial Group LLC acquired a new stake in RumbleOn during the 2nd quarter worth $127,000. Institutional investors and hedge funds own 66.14% of the company’s stock.

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.