RumbleOn, Inc. (NASDAQ:RMBL – Get Free Report) shares were up 8.9% on Wednesday . The company traded as high as $6.00 and last traded at $5.64. Approximately 177,882 shares traded hands during trading, an increase of 9% from the average daily volume of 163,080 shares. The stock had previously closed at $5.18.
Analyst Ratings Changes
Separately, Wedbush decreased their price target on shares of RumbleOn from $7.00 to $5.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th.
View Our Latest Report on RMBL
RumbleOn Trading Up 8.9 %
RumbleOn (NASDAQ:RMBL – Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $336.80 million for the quarter, compared to the consensus estimate of $386.05 million. During the same quarter in the previous year, the business posted $0.02 EPS. As a group, equities analysts forecast that RumbleOn, Inc. will post -0.55 earnings per share for the current year.
Institutional Trading of RumbleOn
Institutional investors have recently bought and sold shares of the company. Empowered Funds LLC lifted its stake in shares of RumbleOn by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 66,150 shares of the company’s stock valued at $317,000 after purchasing an additional 3,350 shares during the period. Dimensional Fund Advisors LP lifted 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 buying an additional 7,704 shares during the period. Virtu Financial LLC acquired a new position in RumbleOn in the first quarter valued at approximately $90,000. Rhumbline Advisers boosted its holdings 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 in the last quarter. Finally, Magnus Financial Group LLC acquired a new stake in shares of RumbleOn during the 2nd quarter worth approximately $127,000. 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.
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