Robert W. Baird Issues Pessimistic Forecast for RumbleOn (NASDAQ:RMBL) Stock Price

RumbleOn (NASDAQ:RMBL) had its price target lowered by equities research analysts at Robert W. Baird from $8.00 to $5.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s target price would suggest a potential upside of 39.28% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. DA Davidson reiterated a “neutral” rating and issued a $5.00 price target (down previously from $7.50) on shares of RumbleOn in a research note on Tuesday, January 14th. B. Riley cut RumbleOn from a “buy” rating to a “neutral” rating and set a $7.00 target price for the company. in a research report on Friday, November 29th.

RumbleOn Stock Performance

RMBL opened at $3.59 on Wednesday. The company has a 50 day simple moving average of $4.38 and a two-hundred day simple 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 firm has a market cap of $126.98 million, a P/E ratio of -0.43 and a beta of 2.17. RumbleOn has a 1-year low of $3.13 and a 1-year high of $7.53.

Institutional Trading of RumbleOn

Several hedge funds have recently bought and sold shares of RMBL. Boothbay Fund Management LLC bought a new stake in shares of RumbleOn in the fourth quarter worth about $55,000. Wells Fargo & Company MN grew its holdings in RumbleOn by 36.4% during the 4th quarter. Wells Fargo & Company MN now owns 10,084 shares of the company’s stock valued at $55,000 after buying an additional 2,689 shares in the last quarter. SG Americas Securities LLC bought a new stake in RumbleOn in the 4th quarter worth approximately $58,000. Barclays PLC raised its holdings in shares of RumbleOn by 278.7% during the 3rd quarter. Barclays PLC now owns 21,278 shares of the company’s stock worth $102,000 after acquiring an additional 15,660 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of RumbleOn by 249.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 23,879 shares of the company’s stock worth $114,000 after acquiring an additional 17,036 shares in the last quarter. Hedge funds and other institutional investors 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.