RumbleOn (NASDAQ:RMBL) Shares Up 8.9% – Still a Buy?

RumbleOn, Inc. (NASDAQ:RMBL) shot up 8.9% during trading on Wednesday . The stock traded as high as $6.00 and last traded at $5.64. 177,882 shares changed hands during trading, an increase of 9% from the average session volume of 163,080 shares. The stock had previously closed at $5.18.

Wall Street Analysts Forecast Growth

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

RumbleOn Stock Up 8.9 %

The company has a market cap of $199.22 million, a price-to-earnings ratio of -0.62 and a beta of 2.08. The company has a debt-to-equity ratio of 2.23, a quick ratio of 0.27 and a current ratio of 1.12. The stock’s fifty day moving average is $4.72 and its two-hundred day moving average is $4.75.

RumbleOn (NASDAQ:RMBL) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.04). RumbleOn had a negative return on equity of 98.94% and a negative net margin of 15.15%. The company had revenue of $336.80 million for the quarter, compared to the consensus estimate of $386.05 million. During the same period in the prior year, the firm posted $0.02 earnings per share. Sell-side analysts predict that RumbleOn, Inc. will post -0.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On RumbleOn

Several institutional investors have recently bought and sold shares of RMBL. Rhumbline Advisers boosted its holdings in RumbleOn by 3,910.5% during the second quarter. Rhumbline Advisers now owns 19,772 shares of the company’s stock worth $81,000 after purchasing an additional 19,279 shares during the last quarter. Virtu Financial LLC bought a new position in shares of RumbleOn in the first quarter valued at approximately $90,000. Dimensional Fund Advisors LP grew its holdings in shares of 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 acquiring an additional 7,704 shares in the last quarter. Magnus Financial Group LLC bought a new position in shares of RumbleOn in the second quarter valued at approximately $127,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of RumbleOn during the second quarter valued at approximately $182,000. 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.