RumbleOn, Inc. (NASDAQ:RMBL) Short Interest Update

RumbleOn, Inc. (NASDAQ:RMBL) was the recipient of a significant increase in short interest in March. As of March 15th, there was short interest totalling 1,760,000 shares, an increase of 22.2% from the February 28th total of 1,440,000 shares. Currently, 11.0% of the shares of the stock are short sold. Based on an average daily volume of 99,100 shares, the short-interest ratio is presently 17.8 days.

Institutional Investors Weigh In On RumbleOn

A number of hedge funds have recently made changes to their positions in RMBL. Wells Fargo & Company MN grew its position 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 during the last quarter. Boothbay Fund Management LLC purchased a new position in RumbleOn in the 4th quarter worth $55,000. SG Americas Securities LLC acquired a new stake in RumbleOn during the 4th quarter worth about $58,000. Barclays PLC grew its stake in RumbleOn by 278.7% during the 3rd 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. increased its holdings in 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 buying an additional 17,036 shares during the period. 66.14% of the stock is currently owned by hedge funds and other institutional investors.

RumbleOn Trading Up 3.3 %

RMBL stock traded up $0.09 during mid-day trading on Wednesday, reaching $2.78. 12,053 shares of the stock traded hands, compared to its average volume of 143,009. RumbleOn has a one year low of $2.61 and a one year high of $7.06. The stock has a market capitalization of $105.05 million, a PE ratio of -0.33 and a beta of 2.17. The business has a 50-day moving average price of $3.95 and a two-hundred day moving average price of $4.83. The company has a debt-to-equity ratio of 2.52, a quick ratio of 0.29 and a current ratio of 1.12.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on RMBL. DA Davidson cut their price target on RumbleOn from $5.00 to $4.00 and set a “neutral” rating for the company in a research note on Wednesday, March 12th. Robert W. Baird dropped their target price on shares of RumbleOn from $8.00 to $5.00 and set an “outperform” rating for the company in a research report on Wednesday, March 12th. Finally, Wedbush reduced their price target on shares of RumbleOn from $5.50 to $5.00 and set an “outperform” rating on the stock in a report on Wednesday, March 12th.

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.