RumbleOn (NASDAQ:RMBL) Rating Lowered to "Neutral" at B. Riley

B. Riley cut shares of RumbleOn (NASDAQ:RMBL - Free Report) from a buy rating to a neutral rating in a report released on Friday morning, Marketbeat Ratings reports. The brokerage currently has $7.00 target price on the stock.

Separately, Wedbush dropped their price objective on RumbleOn from $7.00 to $5.00 and set an "outperform" rating on the stock in a research note on Thursday, August 8th.

RumbleOn Stock Down 2.4 %

Shares of NASDAQ RMBL traded down $0.17 during mid-day trading on Friday, hitting $6.83. 94,544 shares of the stock traded hands, compared to its average volume of 163,899. The company has a debt-to-equity ratio of 2.52, a quick ratio of 0.29 and a current ratio of 1.12. The stock has a fifty day moving average price of $5.22 and a 200-day moving average price of $4.82. The company has a market cap of $241.58 million, a price-to-earnings ratio of -0.83 and a beta of 2.08. RumbleOn has a 52 week low of $3.13 and a 52 week high of $8.84.

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

Hedge Funds Weigh In On RumbleOn

Several hedge funds and other institutional investors have recently modified their holdings of the business. Rhumbline Advisers raised its holdings in RumbleOn by 3,910.5% in the 2nd quarter. Rhumbline Advisers now owns 19,772 shares of the company's stock valued at $81,000 after buying an additional 19,279 shares during the period. Virtu Financial LLC acquired a new stake in shares of RumbleOn in the first quarter valued at approximately $90,000. Barclays PLC increased its stake in RumbleOn by 278.7% in the third quarter. Barclays PLC now owns 21,278 shares of the company's stock valued at $102,000 after purchasing an additional 15,660 shares during the period. Dimensional Fund Advisors LP lifted its position in RumbleOn by 35.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 29,182 shares of the company's stock worth $120,000 after acquiring an additional 7,704 shares during the period. Finally, Magnus Financial Group LLC purchased a new position in RumbleOn in the 2nd quarter valued at $127,000. 66.14% of the stock is 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.