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

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

RumbleOn Stock Down 4.0 %

Shares of RMBL traded down $0.09 during trading hours on Monday, hitting $2.18. The company had a trading volume of 95,444 shares, compared to its average volume of 144,497. RumbleOn has a 52-week low of $1.96 and a 52-week high of $7.06. The firm has a fifty day moving average price of $3.82 and a 200-day moving average price of $4.79. The stock has a market capitalization of $82.38 million, a price-to-earnings ratio of -0.26 and a beta of 2.15. The company has a debt-to-equity ratio of 2.52, a quick ratio of 0.29 and a current ratio of 1.12.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in RMBL. Geode Capital Management LLC raised its holdings in RumbleOn by 7.5% in the 4th quarter. Geode Capital Management LLC now owns 475,315 shares of the company's stock worth $2,581,000 after acquiring an additional 32,987 shares during the last quarter. State Street Corp boosted its position in shares of RumbleOn by 1.7% during the third quarter. State Street Corp now owns 181,190 shares of the company's stock valued at $868,000 after buying an additional 3,061 shares during the last quarter. Northern Trust Corp increased its holdings 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 buying an additional 11,395 shares in the last quarter. JPMorgan Chase & Co. raised its position in RumbleOn by 162.4% in the 4th quarter. JPMorgan Chase & Co. now owns 62,657 shares of the company's stock worth $340,000 after buying an additional 38,778 shares during the last quarter. Finally, Prescott Group Capital Management L.L.C. bought a new position in RumbleOn during the 4th quarter valued at about $282,000. Institutional investors own 66.14% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. DA Davidson dropped their target price on RumbleOn from $5.00 to $4.00 and set a "neutral" rating for the company in a research report on Wednesday, March 12th. Robert W. Baird reissued a "neutral" rating and set a $3.00 target price (down from $5.00) on shares of RumbleOn in a research note on Friday. Finally, Wedbush reduced their target price on RumbleOn from $5.50 to $5.00 and set an "outperform" rating on the stock in a report on Wednesday, March 12th.

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.