Short Interest in RumbleOn, Inc. (NASDAQ:RMBL) Expands By 22.2%

RumbleOn, Inc. (NASDAQ:RMBL - Get Free Report) was the recipient of a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 1,760,000 shares, an increase of 22.2% from the February 28th total of 1,440,000 shares. Based on an average daily trading volume, of 99,100 shares, the short-interest ratio is presently 17.8 days. Currently, 11.0% of the shares of the stock are short sold.

RumbleOn Price Performance

RMBL traded down $0.13 during trading hours on Friday, hitting $2.27. The company's stock had a trading volume of 190,425 shares, compared to its average volume of 144,635. RumbleOn has a 12 month low of $2.16 and a 12 month high of $7.06. The company has a current ratio of 1.12, a quick ratio of 0.29 and a debt-to-equity ratio of 2.52. The business's 50-day moving average price is $3.82 and its 200-day moving average price is $4.79. The stock has a market cap of $85.78 million, a price-to-earnings ratio of -0.27 and a beta of 2.15.

Wall Street Analyst Weigh In

RMBL has been the subject of a number of research reports. Wedbush dropped their target price on shares of RumbleOn from $5.50 to $5.00 and set an "outperform" rating for the company in a research report on Wednesday, March 12th. Robert W. Baird restated a "neutral" rating and set a $3.00 price objective (down previously from $5.00) on shares of RumbleOn in a research report on Friday. Finally, DA Davidson reduced their target price on RumbleOn from $5.00 to $4.00 and set a "neutral" rating on the stock in a report on Wednesday, March 12th.

Remove Ads

Institutional Trading of RumbleOn

Several hedge funds have recently made changes to their positions in RMBL. Wells Fargo & Company MN increased its stake in RumbleOn by 36.4% during the fourth quarter. Wells Fargo & Company MN now owns 10,084 shares of the company's stock worth $55,000 after acquiring an additional 2,689 shares during the last quarter. Boothbay Fund Management LLC purchased a new position in shares of RumbleOn in the 4th quarter worth approximately $55,000. SG Americas Securities LLC purchased a new stake in RumbleOn during the 4th quarter valued at $58,000. Barclays PLC lifted its position in RumbleOn by 278.7% in the third 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. boosted its stake in RumbleOn by 249.0% during the third quarter. JPMorgan Chase & Co. now owns 23,879 shares of the company's stock worth $114,000 after buying an additional 17,036 shares during the period. 66.14% of the stock is currently owned by hedge funds and other institutional investors.

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.