Robert W. Baird Has Lowered Expectations for RumbleOn (NASDAQ:RMBL) Stock Price

RumbleOn (NASDAQ:RMBL) had its price target dropped by equities researchers at Robert W. Baird from $8.00 to $5.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s target price indicates a potential upside of 40.85% from the company’s current price.

Other analysts also recently issued research reports about the company. DA Davidson reaffirmed a “neutral” rating and issued a $5.00 target price (down previously from $7.50) on shares of RumbleOn in a research report on Tuesday, January 14th. B. Riley downgraded RumbleOn from a “buy” rating to a “neutral” rating and set a $7.00 target price on the stock. in a research report on Friday, November 29th.

RumbleOn Stock Performance

Shares of RumbleOn stock opened at $3.55 on Wednesday. The firm has a market cap of $125.57 million, a price-to-earnings ratio of -0.42 and a beta of 2.17. The stock’s 50-day moving average is $4.31 and its 200-day moving average is $4.91. RumbleOn has a one year low of $3.13 and a one year high of $7.06. The company has a debt-to-equity ratio of 2.52, a current ratio of 1.12 and a quick ratio of 0.29.

Hedge Funds Weigh In On RumbleOn

Institutional investors have recently bought and sold shares of the business. Boothbay Fund Management LLC acquired a new position in RumbleOn during the fourth quarter worth approximately $55,000. Wells Fargo & Company MN grew its position in shares of RumbleOn by 36.4% in the fourth quarter. Wells Fargo & Company MN now owns 10,084 shares of the company’s stock valued at $55,000 after purchasing an additional 2,689 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of RumbleOn in the fourth quarter valued at approximately $58,000. Barclays PLC grew its position in shares of RumbleOn by 278.7% in the third quarter. Barclays PLC now owns 21,278 shares of the company’s stock valued at $102,000 after purchasing an additional 15,660 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of RumbleOn by 249.0% in the third 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. Institutional investors and hedge funds 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.