RumbleOn’s (RMBL) “Neutral” Rating Reiterated at DA Davidson

DA Davidson reissued their neutral rating on shares of RumbleOn (NASDAQ:RMBL) in a research note released on Tuesday morning, Marketbeat reports. DA Davidson currently has a $5.00 target price on the stock, down from their previous target price of $7.50.

Separately, B. Riley lowered 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 Trading Down 1.3 %

Shares of RMBL opened at $4.46 on Tuesday. RumbleOn has a 1-year low of $3.13 and a 1-year high of $8.17. The company has a market capitalization of $157.75 million, a P/E ratio of -0.53 and a beta of 2.31. 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’s 50 day simple moving average is $5.68 and its 200 day simple moving average is $4.85.

RumbleOn (NASDAQ:RMBL) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.22). RumbleOn had a negative return on equity of 122.45% and a negative net margin of 15.25%. The company had revenue of $295.00 million during the quarter, compared to the consensus estimate of $302.76 million. During the same period in the previous year, the company earned ($0.71) EPS. Sell-side analysts forecast that RumbleOn will post -0.87 earnings per share for the current fiscal year.

Institutional Investors Weigh In On RumbleOn

Hedge funds have recently made changes to their positions in the business. Citigroup Inc. grew its holdings in shares of RumbleOn by 46,928.8% during the 3rd quarter. Citigroup Inc. now owns 1,701,503 shares of the company’s stock valued at $8,150,000 after purchasing an additional 1,697,885 shares during the last quarter. Magnus Financial Group LLC boosted its position in RumbleOn by 146.8% during the third quarter. Magnus Financial Group LLC now owns 76,500 shares of the company’s stock valued at $366,000 after buying an additional 45,500 shares during the period. Bank of New York Mellon Corp bought a new position in shares of RumbleOn during the second quarter valued at about $182,000. Geode Capital Management LLC increased its holdings in shares of RumbleOn by 8.7% in the third 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 during the period. Finally, Rhumbline Advisers lifted its stake in shares of RumbleOn by 3,910.5% in the 2nd quarter. Rhumbline Advisers now owns 19,772 shares of the company’s stock valued at $81,000 after acquiring an additional 19,279 shares during the last quarter. 66.14% of the stock is currently owned by institutional investors.

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.