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

B. Riley lowered shares of RumbleOn (NASDAQ:RMBL) from a buy rating to a neutral rating in a research note issued to investors on Friday morning, MarketBeat Ratings reports. The firm currently has $7.00 price target on the stock.

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

RumbleOn Stock Down 2.4 %

Shares of NASDAQ RMBL opened at $6.83 on Friday. RumbleOn has a 12-month low of $3.13 and a 12-month high of $8.84. The firm’s 50-day simple moving average is $5.31 and its 200 day simple moving average is $4.82. The company has a quick ratio of 0.29, a current ratio of 1.12 and a debt-to-equity ratio of 2.52. The company has a market cap of $241.58 million, a price-to-earnings ratio of -0.81 and a beta of 2.08.

RumbleOn (NASDAQ:RMBL) last announced its 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 company had revenue of $295.00 million during the quarter, compared to the consensus estimate 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 in the prior year, the firm posted ($0.71) earnings per share. On average, research analysts expect that RumbleOn will post -0.87 earnings per share for the current fiscal year.

Institutional Trading of RumbleOn

Institutional investors and hedge funds have recently made changes to their positions in the business. Rhumbline Advisers grew its position in shares of 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 period. Virtu Financial LLC bought a new position in RumbleOn during the 1st quarter worth approximately $90,000. Barclays PLC grew its holdings in RumbleOn by 278.7% during the third 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 period. Dimensional Fund Advisors LP increased 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 valued at $120,000 after purchasing an additional 7,704 shares in the last quarter. Finally, Magnus Financial Group LLC acquired a new stake in RumbleOn in the second quarter worth $127,000. 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.