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

RumbleOn (NASDAQ:RMBL) had its target price decreased by Wedbush from $5.50 to $5.00 in a research note released on Wednesday morning,Benzinga reports. Wedbush currently has an outperform rating on the stock.

Several other equities analysts have also commented on RMBL. Robert W. Baird reduced their price objective on RumbleOn from $8.00 to $5.00 and set an “outperform” rating on the stock in a research report on Wednesday. B. Riley lowered RumbleOn from a “buy” rating to a “neutral” rating and set a $7.00 price target on the stock. in a research report on Friday, November 29th. Finally, DA Davidson restated a “neutral” rating and set a $5.00 price target (down from $7.50) on shares of RumbleOn in a research report on Tuesday, January 14th.

RumbleOn Price Performance

Shares of RumbleOn stock opened at $3.80 on Wednesday. The company has a current ratio of 1.12, a quick ratio of 0.29 and a debt-to-equity ratio of 2.52. The firm has a market capitalization of $134.41 million, a PE ratio of -0.45 and a beta of 2.17. The business’s 50-day moving average price is $4.34 and its 200-day moving average price is $4.92. RumbleOn has a 12 month low of $3.13 and a 12 month high of $7.53.

Institutional Investors Weigh In On RumbleOn

Several institutional investors and hedge funds have recently bought and sold shares of the business. Wells Fargo & Company MN lifted its holdings in RumbleOn by 36.4% in the 4th quarter. Wells Fargo & Company MN now owns 10,084 shares of the company’s stock worth $55,000 after buying an additional 2,689 shares during the period. State Street Corp lifted its holdings in RumbleOn by 1.7% in the 3rd quarter. State Street Corp now owns 181,190 shares of the company’s stock worth $868,000 after buying an additional 3,061 shares during the period. Empowered Funds LLC lifted its stake in shares of RumbleOn by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 66,150 shares of the company’s stock valued at $317,000 after purchasing an additional 3,350 shares during the period. Barclays PLC lifted its stake in shares of RumbleOn by 21.2% in the 4th quarter. Barclays PLC now owns 25,787 shares of the company’s stock valued at $140,000 after purchasing an additional 4,509 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of RumbleOn by 18.8% in the 4th quarter. Bank of New York Mellon Corp now owns 38,380 shares of the company’s stock valued at $208,000 after purchasing an additional 6,084 shares during the period. 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.