RumbleOn (NASDAQ:RMBL) Stock Price Up 8.9% - Should You Buy?

RumbleOn, Inc. (NASDAQ:RMBL - Get Free Report) traded up 8.9% on Wednesday . The company traded as high as $6.00 and last traded at $5.64. 177,882 shares changed hands during mid-day trading, an increase of 9% from the average session volume of 163,080 shares. The stock had previously closed at $5.18.

Analyst Upgrades and Downgrades

Separately, Wedbush reduced their price target on RumbleOn from $7.00 to $5.00 and set an "outperform" rating for the company in a report on Thursday, August 8th.

RumbleOn Stock Performance

The company has a debt-to-equity ratio of 2.23, a current ratio of 1.12 and a quick ratio of 0.27. The stock has a market cap of $196.04 million, a price-to-earnings ratio of -0.61 and a beta of 2.08. The firm has a fifty day moving average of $4.74 and a 200 day moving average of $4.76.

RumbleOn (NASDAQ:RMBL - Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.04). RumbleOn had a negative return on equity of 98.94% and a negative net margin of 15.15%. The business had revenue of $336.80 million during the quarter, compared to analysts' expectations of $386.05 million. During the same quarter in the previous year, the company posted $0.02 earnings per share. As a group, sell-side analysts forecast that RumbleOn, Inc. will post -0.55 EPS for the current year.

Institutional Trading of RumbleOn

Several hedge funds have recently modified their holdings of RMBL. Magnus Financial Group LLC raised its stake in shares of RumbleOn by 146.8% in the third quarter. Magnus Financial Group LLC now owns 76,500 shares of the company's stock valued at $366,000 after acquiring an additional 45,500 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of RumbleOn in the second quarter valued at $182,000. Rhumbline Advisers raised its stake in RumbleOn by 3,910.5% in the second quarter. Rhumbline Advisers now owns 19,772 shares of the company's stock valued at $81,000 after buying an additional 19,279 shares in the last quarter. Virtu Financial LLC acquired a new stake in RumbleOn in the first quarter valued at $90,000. Finally, Dimensional Fund Advisors LP raised its stake in RumbleOn by 35.9% in the second quarter. Dimensional Fund Advisors LP now owns 29,182 shares of the company's stock valued at $120,000 after buying an additional 7,704 shares in the last quarter. 66.14% of the stock is currently owned by institutional investors and hedge funds.

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.