RumbleOn (NASDAQ:RMBL) Trading Up 0.6% – What’s Next?

RumbleOn, Inc. (NASDAQ:RMBL)’s stock price was up 0.6% on Monday . The company traded as high as $5.34 and last traded at $5.22. Approximately 144,414 shares changed hands during mid-day trading, a decline of 11% from the average daily volume of 162,887 shares. The stock had previously closed at $5.19.

Wall Street Analysts Forecast Growth

Separately, B. Riley lowered shares of RumbleOn from a “buy” rating to a “neutral” rating and set a $7.00 price target for the company. in a research note on Friday, November 29th.

RumbleOn Stock Performance

The business’s 50-day simple moving average is $5.71 and its 200 day simple moving average is $4.83. The firm has a market cap of $184.64 million, a P/E ratio of -0.62 and a beta of 2.23. 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 (NASDAQ:RMBL) last posted 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). RumbleOn had a negative net margin of 15.25% and a negative return on equity of 122.45%. The firm had revenue of $295.00 million during the quarter, compared to the consensus estimate of $302.76 million. During the same period in the prior year, the company posted ($0.71) EPS. As a group, equities analysts predict that RumbleOn, Inc. will post -0.87 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in RMBL. Barclays PLC increased its stake in shares of RumbleOn by 278.7% in 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 in the last quarter. Geode Capital Management LLC increased its stake in RumbleOn by 8.7% in the 3rd quarter. Geode Capital Management LLC now owns 442,328 shares of the company’s stock worth $2,119,000 after buying an additional 35,536 shares in the last quarter. State Street Corp raised its holdings in RumbleOn by 1.7% during the third quarter. State Street Corp now owns 181,190 shares of the company’s stock valued at $868,000 after acquiring an additional 3,061 shares during the period. Citigroup Inc. lifted its position in shares of RumbleOn by 46,928.8% in the third quarter. Citigroup Inc. now owns 1,701,503 shares of the company’s stock valued at $8,150,000 after acquiring an additional 1,697,885 shares in the last quarter. Finally, Empowered Funds LLC boosted its stake in shares of RumbleOn by 5.3% in the third quarter. Empowered Funds LLC now owns 66,150 shares of the company’s stock worth $317,000 after acquiring an additional 3,350 shares during the period. 66.14% of the stock is owned by hedge funds and other institutional investors.

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.