RumbleOn, Inc. (NASDAQ:RMBL) Sees Large Decline in Short Interest

RumbleOn, Inc. (NASDAQ:RMBL - Get Free Report) was the recipient of a significant decline in short interest during the month of December. As of December 15th, there was short interest totalling 1,050,000 shares, a decline of 15.3% from the November 30th total of 1,240,000 shares. Based on an average daily volume of 120,800 shares, the short-interest ratio is presently 8.7 days.

RumbleOn Trading Down 6.2 %

Shares of RumbleOn stock traded down $0.36 during trading on Friday, reaching $5.48. The company's stock had a trading volume of 161,509 shares, compared to its average volume of 162,128. The company has a quick ratio of 0.29, a current ratio of 1.12 and a debt-to-equity ratio of 2.52. RumbleOn has a 52-week low of $3.13 and a 52-week high of $8.31. The firm's 50-day moving average is $5.73 and its two-hundred day moving average is $4.83. The company has a market cap of $193.83 million, a price-to-earnings ratio of -0.65 and a beta of 2.23.

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

Institutional Investors Weigh In On RumbleOn

A number of large investors have recently added to or reduced their stakes in RMBL. State Street Corp boosted its holdings in shares of RumbleOn by 1.7% during 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 period. Empowered Funds LLC raised its position in RumbleOn by 5.3% during 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 last quarter. Dimensional Fund Advisors LP lifted its holdings in RumbleOn by 35.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 29,182 shares of the company's stock worth $120,000 after buying an additional 7,704 shares during the period. Barclays PLC grew its position in shares of RumbleOn by 278.7% in the 3rd quarter. Barclays PLC now owns 21,278 shares of the company's stock worth $102,000 after buying an additional 15,660 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of RumbleOn by 249.0% during the third quarter. JPMorgan Chase & Co. now owns 23,879 shares of the company's stock valued at $114,000 after buying an additional 17,036 shares during the period. Institutional investors own 66.14% of the company's stock.

Analyst Upgrades and Downgrades

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

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.