DA Davidson Lowers RumbleOn (NASDAQ:RMBL) Price Target to $4.00

RumbleOn (NASDAQ:RMBL - Free Report) had its target price lowered by DA Davidson from $5.00 to $4.00 in a research report report published on Wednesday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other equities research analysts have also recently issued reports about the company. Robert W. Baird cut their target price on RumbleOn from $8.00 to $5.00 and set an "outperform" rating on the stock in a research note on Wednesday. Wedbush reduced their price objective on shares of RumbleOn from $5.50 to $5.00 and set an "outperform" rating for the company in a research note on Wednesday. Finally, B. Riley cut shares of RumbleOn from a "buy" rating to a "neutral" rating and set a $7.00 target price for the company. in a report on Friday, November 29th.

RumbleOn Stock Down 6.6 %

RMBL stock traded down $0.25 during midday trading on Wednesday, hitting $3.55. The stock had a trading volume of 138,489 shares, compared to its average volume of 152,041. The business has a 50-day moving average of $4.31 and a two-hundred day moving average of $4.91. 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 $125.57 million, a price-to-earnings ratio of -0.42 and a beta of 2.17. RumbleOn has a 52-week low of $3.13 and a 52-week high of $7.06.

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Hedge Funds Weigh In On RumbleOn

Hedge funds have recently bought and sold shares of the business. PharVision Advisers LLC purchased a new stake in shares of RumbleOn during the 4th quarter valued at about $114,000. Deutsche Bank AG lifted its position in RumbleOn by 260.3% during the fourth quarter. Deutsche Bank AG now owns 22,545 shares of the company's stock valued at $122,000 after purchasing an additional 16,288 shares during the period. Bank of America Corp DE boosted its holdings in RumbleOn by 39.3% in the fourth quarter. Bank of America Corp DE now owns 26,155 shares of the company's stock worth $142,000 after purchasing an additional 7,383 shares during the last quarter. Northern Trust Corp grew its position in RumbleOn by 8.4% in the 4th quarter. Northern Trust Corp now owns 146,387 shares of the company's stock worth $795,000 after purchasing an additional 11,395 shares during the period. Finally, Boothbay Fund Management LLC purchased a new stake in RumbleOn during the 4th quarter valued at $55,000. 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.