B. Riley Cuts RumbleOn (NASDAQ:RMBL) Price Target to $7.00

RumbleOn (NASDAQ:RMBL) had its target price trimmed by B. Riley from $9.00 to $7.00 in a research note released on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock. B. Riley also issued estimates for RumbleOn’s Q4 2024 earnings at ($0.22) EPS, FY2024 earnings at ($0.85) EPS, Q1 2025 earnings at ($0.09) EPS, Q2 2025 earnings at $0.26 EPS, Q3 2025 earnings at ($0.03) EPS, Q4 2025 earnings at ($0.01) EPS, FY2025 earnings at $0.14 EPS, Q1 2026 earnings at $0.07 EPS, Q2 2026 earnings at $0.34 EPS, Q3 2026 earnings at $0.03 EPS and FY2026 earnings at $0.48 EPS.

Separately, Wedbush reduced their price target on shares of RumbleOn from $7.00 to $5.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th.

RumbleOn Stock Up 5.0 %

RMBL stock opened at $5.49 on Wednesday. The company has a current ratio of 1.12, a quick ratio of 0.27 and a debt-to-equity ratio of 2.23. The company’s 50 day moving average is $4.91 and its 200 day moving average is $4.77. The stock has a market cap of $193.92 million, a price-to-earnings ratio of -0.65 and a beta of 2.08. RumbleOn has a 1-year low of $3.13 and a 1-year high of $8.84.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of RMBL. Citigroup Inc. grew its holdings in shares of RumbleOn by 46,928.8% in the third quarter. Citigroup Inc. now owns 1,701,503 shares of the company’s stock worth $8,150,000 after purchasing an additional 1,697,885 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of RumbleOn by 8.7% in the third quarter. Geode Capital Management LLC now owns 442,328 shares of the company’s stock worth $2,119,000 after purchasing an additional 35,536 shares during the last quarter. State Street Corp grew its holdings in shares of 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 purchasing an additional 3,061 shares during the last quarter. Magnus Financial Group LLC grew its holdings in shares of RumbleOn by 146.8% in the third quarter. Magnus Financial Group LLC now owns 76,500 shares of the company’s stock worth $366,000 after purchasing an additional 45,500 shares during the last quarter. Finally, Empowered Funds LLC lifted its stake in RumbleOn by 5.3% in the third quarter. Empowered Funds LLC now owns 66,150 shares of the company’s stock worth $317,000 after acquiring an additional 3,350 shares during the period. 66.14% of the stock is currently owned by institutional investors.

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.