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

RumbleOn (NASDAQ:RMBL)‘s stock had its “neutral” rating reiterated by DA Davidson in a research note issued on Tuesday, MarketBeat Ratings reports. They currently have a $5.00 price objective on the stock, down from their prior price objective of $7.50. DA Davidson’s price objective indicates a potential upside of 10.62% from the company’s previous close.

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

RumbleOn Price Performance

RumbleOn stock opened at $4.52 on Tuesday. The firm has a market capitalization of $159.88 million, a P/E ratio of -0.54 and a beta of 2.31. RumbleOn has a one year low of $3.13 and a one year high of $8.17. 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 business has a fifty day moving average price of $5.71 and a 200-day moving average price of $4.86.

RumbleOn (NASDAQ:RMBL) last posted its earnings results on Tuesday, November 12th. The company reported ($0.32) earnings per share 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 company had revenue of $295.00 million for the quarter, compared to analysts’ expectations of $302.76 million. During the same period in the previous year, the firm earned ($0.71) EPS. As a group, equities research analysts forecast that RumbleOn will post -0.87 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of RMBL. JPMorgan Chase & Co. raised its stake in 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 in the last quarter. Barclays PLC raised its position in shares of 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 buying an additional 15,660 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of RumbleOn by 8.7% during the 3rd quarter. Geode Capital Management LLC now owns 442,328 shares of the company’s stock worth $2,119,000 after acquiring an additional 35,536 shares during the last quarter. State Street Corp grew its position in RumbleOn by 1.7% in the third quarter. State Street Corp now owns 181,190 shares of the company’s stock worth $868,000 after acquiring an additional 3,061 shares in the last quarter. Finally, Citigroup Inc. increased its stake in RumbleOn by 46,928.8% in the third quarter. Citigroup Inc. now owns 1,701,503 shares of the company’s stock valued at $8,150,000 after acquiring an additional 1,697,885 shares during the last quarter. Hedge funds and other institutional investors 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.