RumbleOn (NASDAQ:RMBL) Price Target Lowered to $5.00 at Wedbush

RumbleOn (NASDAQ:RMBL) had its target price cut by Wedbush from $5.50 to $5.00 in a report issued on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

RMBL has been the subject of several other research reports. B. Riley downgraded RumbleOn from a “buy” rating to a “neutral” rating and set a $7.00 price objective for the company. in a report on Friday, November 29th. DA Davidson restated a “neutral” rating and set a $5.00 price objective (down previously from $7.50) on shares of RumbleOn in a report on Tuesday, January 14th. Finally, Robert W. Baird decreased their price objective on RumbleOn from $8.00 to $5.00 and set an “outperform” rating for the company in a report on Wednesday.

RumbleOn Price Performance

Shares of RMBL opened at $3.80 on Wednesday. RumbleOn has a 52-week low of $3.13 and a 52-week high of $7.53. The company has a debt-to-equity ratio of 2.52, a quick ratio of 0.29 and a current ratio of 1.12. The business’s 50 day moving average price is $4.34 and its two-hundred day moving average price is $4.92. The firm has a market cap of $134.41 million, a PE ratio of -0.45 and a beta of 2.17.

Institutional Trading of RumbleOn

A number of institutional investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN lifted its holdings in RumbleOn by 36.4% during the 4th quarter. Wells Fargo & Company MN now owns 10,084 shares of the company’s stock worth $55,000 after purchasing an additional 2,689 shares in the last quarter. State Street Corp lifted its holdings in RumbleOn by 1.7% during the 3rd quarter. State Street Corp now owns 181,190 shares of the company’s stock worth $868,000 after purchasing an additional 3,061 shares in the last quarter. Empowered Funds LLC lifted its holdings in RumbleOn by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 66,150 shares of the company’s stock worth $317,000 after purchasing an additional 3,350 shares in the last quarter. Barclays PLC lifted its holdings in RumbleOn by 21.2% during the 4th quarter. Barclays PLC now owns 25,787 shares of the company’s stock worth $140,000 after purchasing an additional 4,509 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in RumbleOn by 18.8% during the 4th quarter. Bank of New York Mellon Corp now owns 38,380 shares of the company’s stock worth $208,000 after purchasing an additional 6,084 shares in the last quarter. Hedge funds and other institutional investors own 66.14% of the company’s stock.

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.