Short Interest in RumbleOn, Inc. (NASDAQ:RMBL) Increases By 22.2%

RumbleOn, Inc. (NASDAQ:RMBL) saw a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 1,760,000 shares, a growth of 22.2% from the February 28th total of 1,440,000 shares. Based on an average trading volume of 99,100 shares, the short-interest ratio is presently 17.8 days. Currently, 11.0% of the company’s shares are short sold.

Institutional Trading of RumbleOn

A number of large investors have recently made changes to their positions in the company. State Street Corp increased its position in shares of RumbleOn by 1.7% in the 3rd quarter. State Street Corp now owns 181,190 shares of the company’s stock valued at $868,000 after purchasing an additional 3,061 shares during the last quarter. Barclays PLC grew its holdings in shares of RumbleOn by 278.7% during the third quarter. Barclays PLC now owns 21,278 shares of the company’s stock worth $102,000 after purchasing an additional 15,660 shares during the last quarter. Geode Capital Management LLC increased its position in shares of RumbleOn by 8.7% during the third quarter. Geode Capital Management LLC now owns 442,328 shares of the company’s stock worth $2,119,000 after purchasing an additional 35,536 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of RumbleOn by 249.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 23,879 shares of the company’s stock valued at $114,000 after purchasing an additional 17,036 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of RumbleOn in the 4th quarter valued at about $58,000. 66.14% of the stock is currently owned by hedge funds and other institutional investors.

RumbleOn Stock Down 13.5 %

Shares of RMBL traded down $0.37 during mid-day trading on Thursday, hitting $2.41. 38,030 shares of the company’s stock were exchanged, compared to its average volume of 143,128. The stock’s 50-day moving average is $3.91 and its 200-day moving average is $4.82. The company has a debt-to-equity ratio of 2.52, a quick ratio of 0.29 and a current ratio of 1.12. RumbleOn has a fifty-two week low of $2.41 and a fifty-two week high of $7.06. The company has a market cap of $90.92 million, a price-to-earnings ratio of -0.29 and a beta of 2.17.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on RMBL shares. Robert W. Baird reduced their target price on RumbleOn from $8.00 to $5.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 12th. DA Davidson decreased their target price on shares of RumbleOn from $5.00 to $4.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 12th. Finally, Wedbush dropped their price target on shares of RumbleOn from $5.50 to $5.00 and set an “outperform” rating for the company in a research report on Wednesday, March 12th.

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.