RumbleOn (NASDAQ:RMBL) Trading Down 2.4% - Time to Sell?

RumbleOn, Inc. (NASDAQ:RMBL - Get Free Report)'s stock price fell 2.4% during mid-day trading on Friday . The company traded as low as $2.31 and last traded at $2.40. 74,326 shares traded hands during trading, a decline of 49% from the average session volume of 145,610 shares. The stock had previously closed at $2.46.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on RMBL shares. Baird R W cut RumbleOn from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. Wedbush decreased their price objective on shares of RumbleOn from $5.50 to $5.00 and set an "outperform" rating on the stock in a report on Wednesday, March 12th. Robert W. Baird reiterated a "neutral" rating and set a $3.00 price target (down from $5.00) on shares of RumbleOn in a research report on Friday, April 4th. Finally, DA Davidson cut their price target on RumbleOn from $5.00 to $4.00 and set a "neutral" rating for the company in a research note on Wednesday, March 12th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $4.75.

RumbleOn Stock Performance

The company's fifty day moving average price is $3.09 and its two-hundred day moving average price is $4.48. The firm has a market capitalization of $96.32 million, a PE ratio of -0.30 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 Trading of RumbleOn

A number of institutional investors and 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. State Street Corp lifted its position in 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 in the last quarter. Barclays PLC grew its stake in RumbleOn by 21.2% during the fourth quarter. Barclays PLC now owns 25,787 shares of the company's stock worth $140,000 after buying an additional 4,509 shares during the period. Bank of New York Mellon Corp increased its position in shares of RumbleOn by 18.8% in the fourth quarter. Bank of New York Mellon Corp now owns 38,380 shares of the company's stock worth $208,000 after acquiring an additional 6,084 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in shares of RumbleOn by 39.3% in the 4th quarter. Bank of America Corp DE now owns 26,155 shares of the company's stock valued at $142,000 after acquiring an additional 7,383 shares during the period. 66.14% of the stock is currently owned by institutional investors and hedge funds.

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.