RumbleOn (NASDAQ:RMBL) Downgraded to “Neutral” Rating by B. Riley

RumbleOn (NASDAQ:RMBL) was downgraded by B. Riley from a “buy” rating to a “neutral” rating in a report released on Friday,Briefing.com Automated Import reports. They presently have a $7.00 price objective on the stock.

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

RumbleOn Stock Performance

NASDAQ:RMBL opened at $7.00 on Friday. 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 firm has a market cap of $247.59 million, a price-to-earnings ratio of -0.83 and a beta of 2.08. The firm’s fifty day moving average price is $5.22 and its 200 day moving average price is $4.82. RumbleOn has a 1-year low of $3.13 and a 1-year high of $8.84.

RumbleOn (NASDAQ:RMBL) last issued its earnings results on Tuesday, November 12th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.22). The firm had revenue of $295.00 million during the quarter, compared to analysts’ expectations of $302.76 million. RumbleOn had a negative net margin of 15.25% and a negative return on equity of 122.45%. During the same period in the previous year, the firm earned ($0.71) EPS. On average, sell-side analysts expect that RumbleOn will post -0.87 EPS for the current year.

Institutional Trading of RumbleOn

Institutional investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC purchased a new position in RumbleOn in the first quarter valued at about $90,000. Rhumbline Advisers increased its stake in RumbleOn by 3,910.5% in the 2nd quarter. Rhumbline Advisers now owns 19,772 shares of the company’s stock valued at $81,000 after purchasing an additional 19,279 shares in the last quarter. Barclays PLC raised its holdings in RumbleOn by 278.7% during the third quarter. Barclays PLC now owns 21,278 shares of the company’s stock worth $102,000 after purchasing an additional 15,660 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in RumbleOn by 35.9% during the second quarter. Dimensional Fund Advisors LP now owns 29,182 shares of the company’s stock worth $120,000 after purchasing an additional 7,704 shares in the last quarter. Finally, Magnus Financial Group LLC acquired a new stake in RumbleOn in the second quarter valued at $127,000. 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.