RumbleOn (NASDAQ:RMBL) Receives Neutral Rating from DA Davidson

DA Davidson reaffirmed their neutral rating on shares of RumbleOn (NASDAQ:RMBL) in a research report report published on Tuesday morning, Marketbeat.com reports. The brokerage currently has a $5.00 price target on the stock, down from their previous price target of $7.50.

Separately, B. Riley lowered shares of RumbleOn from a “buy” rating to a “neutral” rating and set a $7.00 price objective on the stock. in a report on Friday, November 29th.

RumbleOn Stock Performance

Shares of NASDAQ:RMBL opened at $4.34 on Tuesday. The business’s 50-day simple moving average is $5.71 and its 200 day simple moving average is $4.86. The company has a market cap of $153.51 million, a P/E ratio of -0.51 and a beta of 2.31. 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 one year low of $3.13 and a one year high of $8.17.

RumbleOn (NASDAQ:RMBL) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.32) earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $302.76 million. During the same quarter in the prior year, the business earned ($0.71) EPS. On average, sell-side analysts forecast that RumbleOn will post -0.87 earnings per share for the current fiscal year.

Hedge Funds Weigh In On RumbleOn

A number of institutional investors have recently made changes to their positions in the business. Rhumbline Advisers increased its stake in shares of RumbleOn by 3,910.5% in the second quarter. Rhumbline Advisers now owns 19,772 shares of the company’s stock worth $81,000 after buying an additional 19,279 shares during the last quarter. Barclays PLC grew its holdings in RumbleOn by 278.7% during the 3rd quarter. Barclays PLC now owns 21,278 shares of the company’s stock worth $102,000 after acquiring an additional 15,660 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of RumbleOn by 249.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 23,879 shares of the company’s stock worth $114,000 after purchasing an additional 17,036 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of RumbleOn by 35.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 29,182 shares of the company’s stock valued at $120,000 after purchasing an additional 7,704 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of RumbleOn during the second quarter worth about $182,000. 66.14% of the stock is owned by institutional investors and hedge funds.

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.