RumbleON (NASDAQ:RMBL) Stock Price Down 8.1% - What's Next?

Key Points

• RumbleON's stock price decreased by 8.1% recently, dropping to $2.16, with trading volume down 48% from the average.
• Analyst ratings for RumbleON have shifted, with Robert W. Baird and DA Davidson both setting a new price target of $3.00, down from previous figures.
• The company's latest quarterly earnings showed a negative EPS of ($0.26), meeting analyst estimates, with a projected EPS of -0.89 for the current fiscal year.

RumbleON, Inc. (NASDAQ:RMBL - Get Free Report) shares traded down 8.1% during mid-day trading on Wednesday . The stock traded as low as $2.16 and last traded at $2.16. 29,232 shares changed hands during trading, a decline of 48% from the average session volume of 56,568 shares. The stock had previously closed at $2.35.

Analyst Ratings Changes

Separately, DA Davidson reduced their price target on RumbleON from $4.00 to $3.00 and set a "neutral" rating on the stock in a research report on Thursday, May 8th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $4.50.

RumbleON Trading Down 0.9%

The stock has a market capitalization of $78.98 million, a P/E ratio of -0.96 and a beta of 1.27. The stock has a 50-day moving average price of $2.22 and a two-hundred day moving average price of $2.93. The company has a debt-to-equity ratio of 8.00, a quick ratio of 0.27 and a current ratio of 1.14.

RumbleON (NASDAQ:RMBL - Get Free Report) last issued its quarterly earnings data on Wednesday, May 14th. The company reported ($0.26) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.26). The firm had revenue of $244.70 million for the quarter. RumbleON had a negative return on equity of 63.42% and a negative net margin of 6.81%. On average, research analysts forecast that RumbleON, Inc. will post -0.89 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC raised its stake in shares of RumbleON by 7.5% in the fourth quarter. Geode Capital Management LLC now owns 475,315 shares of the company's stock worth $2,581,000 after purchasing an additional 32,987 shares during the last quarter. Northern Trust Corp lifted its position in shares of RumbleON by 8.4% in the fourth 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. First Financial Bankshares Inc purchased a new stake in shares of RumbleON in the first quarter worth about $283,000. JPMorgan Chase & Co. raised its position in RumbleON by 162.4% during the fourth quarter. JPMorgan Chase & Co. now owns 62,657 shares of the company's stock valued at $340,000 after purchasing an additional 38,778 shares during the period. Finally, Magnus Financial Group LLC raised its position in RumbleON by 50.0% during the second quarter. Magnus Financial Group LLC now owns 60,000 shares of the company's stock valued at $139,000 after purchasing an additional 20,000 shares during the period. Hedge funds and other 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.