Wedbush Reiterates Outperform Rating for RumbleOn (NASDAQ:RMBL)

Wedbush reiterated their outperform rating on shares of RumbleOn (NASDAQ:RMBL - Free Report) in a research report report published on Thursday morning, Benzinga reports. The firm currently has a $7.00 price objective on the stock.

RMBL has been the topic of a number of other research reports. DA Davidson reduced their target price on RumbleOn from $10.00 to $8.00 and set a buy rating on the stock in a report on Friday, March 15th. B. Riley reiterated a buy rating and set a $13.00 target price (up previously from $11.00) on shares of RumbleOn in a research note on Friday, March 15th.

RumbleOn Stock Up 13.2 %

NASDAQ:RMBL traded up $0.72 on Thursday, reaching $6.17. The stock had a trading volume of 236,831 shares, compared to its average volume of 155,841. The company has a 50-day moving average of $5.98 and a 200 day moving average of $6.53. The company has a current ratio of 1.22, a quick ratio of 0.34 and a debt-to-equity ratio of 2.71. The stock has a market cap of $217.18 million, a P/E ratio of -0.55 and a beta of 2.08. RumbleOn has a 12-month low of $4.82 and a 12-month high of $13.52.

RumbleOn (NASDAQ:RMBL - Get Free Report) last issued its quarterly earnings data on Thursday, March 14th. The company reported ($4.32) earnings per share for the quarter, missing analysts' consensus estimates of ($0.34) by ($3.98). RumbleOn had a negative net margin of 15.63% and a negative return on equity of 63.48%. The business had revenue of $311.10 million for the quarter, compared to analyst estimates of $343.72 million. On average, research analysts predict that RumbleOn will post -0.02 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Empowered Funds LLC grew its holdings in RumbleOn by 8.1% during the first quarter. Empowered Funds LLC now owns 58,300 shares of the company's stock worth $377,000 after acquiring an additional 4,375 shares during the period. Advisor Resource Council bought a new stake in shares of RumbleOn in the 4th quarter worth approximately $282,000. B. Riley Wealth Advisors Inc. lifted its stake in RumbleOn by 10.7% during the third quarter. B. Riley Wealth Advisors Inc. now owns 25,119 shares of the company's stock valued at $154,000 after purchasing an additional 2,430 shares during the last quarter. Barclays PLC bought a new stake in RumbleOn during the third quarter worth approximately $112,000. Finally, Cambridge Investment Research Advisors Inc. bought a new stake in shares of RumbleOn during the 3rd quarter worth $76,000. Institutional investors own 66.14% of the company's stock.

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.