RumbleOn (NASDAQ:RMBL) Receives "Neutral" Rating from DA Davidson

DA Davidson restated their neutral rating on shares of RumbleOn (NASDAQ:RMBL - Free Report) in a report released on Tuesday, Marketbeat reports. The firm currently has a $5.00 target price on the stock, down from their prior target price of $7.50.

Separately, B. Riley cut RumbleOn from a "buy" rating to a "neutral" rating and set a $7.00 target price on the stock. in a report on Friday, November 29th.

RumbleOn Stock Performance

NASDAQ:RMBL traded down $0.23 during mid-day trading on Tuesday, hitting $4.34. 103,796 shares of the company traded hands, compared to its average volume of 76,537. The company has a quick ratio of 0.29, a current ratio of 1.12 and a debt-to-equity ratio of 2.52. The stock's fifty day moving average price is $5.71 and its 200-day moving average price is $4.86. The firm has a market cap of $153.51 million, a price-to-earnings ratio of -0.51 and a beta of 2.31. RumbleOn has a one year low of $3.13 and a one year high of $8.17.

RumbleOn (NASDAQ:RMBL - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.32) earnings per share (EPS) 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 the consensus estimate of $302.76 million. During the same quarter last year, the firm posted ($0.71) earnings per share. Research analysts anticipate that RumbleOn will post -0.87 earnings per share for the current fiscal year.

Hedge Funds Weigh In On RumbleOn

A number of institutional investors and hedge funds have recently modified their holdings of RMBL. Empowered Funds LLC boosted its stake in RumbleOn by 5.3% during the third quarter. Empowered Funds LLC now owns 66,150 shares of the company's stock worth $317,000 after buying an additional 3,350 shares during the period. Citigroup Inc. raised its position in RumbleOn by 46,928.8% in the 3rd 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 period. Barclays PLC boosted its position in shares of RumbleOn by 278.7% during the third quarter. Barclays PLC now owns 21,278 shares of the company's stock valued at $102,000 after buying an additional 15,660 shares during the period. Geode Capital Management LLC boosted its position in shares of RumbleOn by 8.7% during the third quarter. Geode Capital Management LLC now owns 442,328 shares of the company's stock valued at $2,119,000 after buying an additional 35,536 shares during the period. Finally, State Street Corp raised 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 buying an additional 3,061 shares during the period. 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.